Indowind Energy Faces Financial Downturn

Indowind Energy reported an 11% decline in net profit for the September 2024 quarter, bringing its profit to Rs 4.41 crore compared to Rs 4.95 crore during the same period last year. The company's revenue also fell from Rs 17.95 crore to Rs 13.45 crore.

Indowind Energy revealed a financial downturn on Wednesday, reporting an 11% drop in its consolidated net profit for the September 2024 quarter. The company's net profit fell to Rs 4.41 crore, down from Rs 4.95 crore recorded in the same quarter last year.

The decrease in profitability is accompanied by a reduction in total revenue, which dropped to Rs 13.45 crore from Rs 17.95 crore year-on-year, as stated in its regulatory filing.

The financial report underlines challenges currently faced by Indowind Energy, as the company navigates through changing market conditions and aims to improve its financial stability.

(With inputs from agencies.)