Inox Wind Limited Reports Rs 50 Crore Profit Amid Revenue Surge

In the June quarter, Inox Wind Limited reported a profit of Rs 50 crore, reversing a loss of Rs 65 crore from the same period last year. Total revenue surged 85% to Rs 651 crore. The company credits recent strategic investments and hard work for this turnaround.

Inox Wind Limited (IWL) has recorded a Rs 50 crore profit after tax for the June quarter, thanks to a significant surge in income.

Last year, the company reported a Rs 65 crore loss during the same period, as disclosed in an exchange filing.

Total revenue for Inox Wind climbed 85% to Rs 651 crore, up from Rs 352 crore in the previous year.

Devansh Jain, Executive Director of INOXGFL Group, stated that years of hard work are finally bearing fruit. Jain also noted that IWL's parent company, IWEL, recently infused Rs 900 crore, making the company net cash positive and strengthening its balance sheet to capitalize on long-term opportunities in the Indian wind sector.

Kailash Tarachandani, CEO of IWL, mentioned that the company boasts an order book of around 2.9 gigawatts. In the current fiscal year FY25, the company secured orders amounting to 611 MW.

As part of the USD 9 billion INOXGFL Group, Inox Wind Limited stands out as India's leading wind energy solutions provider, serving IPPs (independent power producers), utilities, PSUs (public sector units), and corporate investors.

(With inputs from agencies.)