Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased by 62.1% from the year-ago period to ₹599 crore, while EBITDA margin expanded by nearly 90 basis points to 19.13% from 18.28%.
The company’s EBITDA and margin increased from the year-ago period, despite higher tax expenses and finance costs. Deferred tax expenses for the quarter stood at ₹134 crore from nil last year, while finance cost increased to ₹103.07 crore from ₹44.52 crore last year.The deferred tax figure of ₹134 crore would be taken out of the advanced tax asset created last quarter, which was worth over ₹600 crore, and the remaining will be utilised in the upcoming quarter. This is a non-cash item there will be no cash outgo in the form of tax.
Suzlon’s net profit for the quarter increased by 7.3% to ₹324 crore from ₹302 crore last year.Deliveries during the quarter stood at 444 MW, which is the highest ever, according to Suzlon’s investor presentation. The company received orders worth 1 GW during the quarter, taking the total order book to 5.7 GW. Deliveries during the March quarter stood at 573 MW.
Out of the total order book, 75% of the orders belong to Commercial & Industrial and PSU segments.
“India’s renewable energy growth is driven by large PSU-led auctions — signalling strong market momentum and rising C&I demand,” Suzlon Group CEO JP Chalasani said. “With 4.5 GW of annual domestic manufacturing capacity, we are well-positioned to power the nation’s clean energy future,” he added.
In confirmation of a CNBC-TV18 newsbreak, Suzlon Energy also confirmed the resignation of Himanshu Mody, its Chief Financial Officer, who leaves after a four-year stint.
Suzlon Energy’s shares ended little changed on Tuesday at ₹63.22, ahead of the results announcement.
