Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased by 48% to ₹730.5 crore from ₹493 crore during the same quarter last year.
EBITDA margin for the quarter increased by 70 basis points to 17.3% from 16.6% last year.
Revenue growth for the quarter stood at 42.4% year-on-year. Suzlon Energy reported revenue of ₹4,228.1 crore from ₹2,968 crore in the year-ago period.At the end of the quarter, Suzlon Energy had a record order book of 6.4 GW with the highest-ever quarterly deliveries at 617 MW. Execution of 2.4 GW worth of orders is currently underway.
The company had a net cash position of ₹1,556 crore at the end of the December quarter.
“Our closing order book of 6.4 GW stands higher than the opening orderbook for the quarter, despite the highest-ever deliveries in 30 years. This reflects the demand for our solutions and the effectiveness of our execution,” JP Chalasani, CEO Of the Suzlon Group said. “Our project development pipeline of 25+ GW is also complementing this strategy to augur growth for us. The success of this shift is enhancing revenue visibility, improving project control, and will continue to be a big growth driver for the group,” he added.
For the first nine months of the year, Suzlon Energy’s revenue has grown by 58% from the same period last year to ₹11,211 crore, while volumes have grown by 66% year-on-year to 1,625 MW.
Shares of Suzlon Energy are currently trading 3.8% lower after the earnings announcement at ₹48.07. The stock is down nearly 50% from its recent peak of ₹84.
