Shares of Suzlon Energy Ltd surged 3% on 29 October after the company announced its quarterly earnings for July-September. 

The company reported a stellar increase of 96% year-on-year (YoY) to Rs 201 crore for the quarter under review, following record order wins and strong margins. The renewable energy company’s net revenue grew 48% YoY to Rs 2,093 crore. 

The earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 294 crore, marking a 31% YoY increase. Whereas the EBITDA margin contracted by 180 basis points to 14.1% compared against 15.9% reported in the same quarter of the previous fiscal year. 

Girish Tanti, Vice Chairman, Suzlon Group, said, “As the renewable energy sector continues to evolve, we’re seizing the chance to explore new opportunities that align with our strategic objectives. To help us crystallise the most relevant prospects, we’ve engaged a leading global management consulting firm to provide expert guidance and insights.”

Earlier, the company signed India’s biggest wind energy order of 1,166 megawatt (MW) with NTPC Green Energy Ltd, which is a renewable arm of NTPC, for installing 370 wind turbine generators that feature the S144 model with a rated capacity of 3.15 MW. 

However, at 1:45 pm, the shares of Suzlon Energy shed all their early gains and were trading 5.03% lower at Rs 67.27 on NSE. 

The future of investing is here!
Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app todayand 10x your trading & investing journey!