INOX India Celebrates 10% Profit Surge Amid New Orders

INOX India reported a 10% increase in consolidated profit to Rs 50.1 crore for the September 2024 quarter. The rise was attributed to greater revenue and successfully securing an order with Highview Power for cryogenic tanks as part of a UK-based energy project.

INOX India on Friday announced a significant 10% rise in consolidated profit after tax, reaching Rs 50.1 crore in the September 2024 quarter. The increase is credited to higher revenue, compared to Rs 45.5 crore in the same quarter last year. The total revenue surged to Rs 320 crore, up from Rs 264.6 crore in the previous fiscal's second quarter.

Deepak Acharya, INOX India's Chief Executive Officer, attributed this success to an influx of new orders and the company's robust execution capabilities. This highlights the strength of their strategic approach and commitment to delivering impactful results.

Additionally, the company announced a new order on Thursday to supply five specialized cryogenic tanks to UK's Highview Power for a Liquid Air Energy Storage project set in Manchester. INOX India is renowned globally for its customized cryogenic solutions, serving industries such as energy, steel, healthcare, chemicals, aviation, aerospace, and construction.

(With inputs from agencies.)