Inox Wind logs Rs 90 cr profit in Q2

New Delhi, Oct 25 (PTI) Inox Wind Ltd (IWL) on Friday posted a net profit of Rs 90.20 crore for the quarter ended September 30, helped by higher income.
     It had incurred a loss of Rs 26.84 crore in the July-September period of FY24, the company said in an exchange filing.
     Total income increased to Rs 741.74 crore from Rs 384.40 crore in the year- ago period. Expenses too rose to Rs 647.93 crore from Rs 412.54 crore.
     n a separate statement, the company said its order book touched 3.3 gigawatt (GW), which includes 1.2 GW of fresh orders in the first half of FY25.
     During the quarter, Inox Wind signed a consortium agreement with banks for Rs 2,200 crore facilities, largely non-fund based, sanctioned on the financial strength of IWL’s balance sheet.
     Its subsidiary Resco Global raised Rs 350 crore equity capital from marquee investors.
     The company's listed subsidiary Inox Green Energy Services Ltd has reported a profit of Rs 6.06 crore as against Rs 5.76 crore in the same quarter of 2023-24. It had an income of Rs 64.41 crore as compared to Rs 58.21 crore earlier.
     Inox Green Energy Services is the only listed wind O&M (operations and maintenance ) services company in India, having a portfolio of 3.5 GW.
     A part of USD 12-billion INOXGFL Group, IWL is India’s leading wind energy solutions provider servicing IPPs (independent power producers), utilities, public sector undertakings and corporate investors.

(This story has not been edited by THE WEEK and is auto-generated from PTI)