Inox Wind shares rose 6% in early trade on May 30 after the company received a repeat order from NTPC Renewable Energy.

Inox Wind has secured an order for a 150 MW wind power project from NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Green Energy Limited, NTPC Limited’s renewable energy vertical.

The project will be executed in Gujarat. Thus, the total order volume awarded to Inox Wind by NTPC to date is 550MW.

In the previous session, the stock closed up 14.68% or Rs 17.15 at Rs 134.

“As part of the order, Inox Wind will supply and install existing and new technology wind turbines. In addition, as part of the agreement, Inox Wind will be responsible for the operation and maintenance (O&M) services of the project. This addition will have This has contributed to the expansion of Inox Wind’s O&M fleet, improving overall profitability,” said Kailash Tarachandani, CEO of Inox Wind.

As a provider of integrated solutions for the wind power value chain, Inox Wind has a large order book making it a major player in the industry. The company’s latest order further strengthens its position and supports its commitment to India’s renewable energy agenda, the company said in a release.

For the quarter ended March 2023, the company posted net sales of Rs 192.77 crore, up 40.3% from Rs 137.4 crore last year. Its quarterly net loss was Rs 117.52 crore, down from Rs 255.65 crore in March 2022.

Inox Wind was quoted at Rs 140.70 on the BSE at 9:30 am, up Rs 6.70, or 5%.