Inox Wind Ltd's Remarkable Growth Surge in Renewables

Inox Wind Ltd reported a significant rise in profit after tax to Rs 239 crore, driven by a near doubling of revenues. The order book increased by 28% compared to the previous year. IWL is expanding its renewable energy offerings, targeting growth in the Indian market.

Inox Wind Ltd (IWL) made headlines with its latest quarterly results, announcing a substantial rise in consolidated profit after tax (PAT) to Rs 239 crore, a considerable increase from Rs 33 crore in the same period last year. This surge is largely due to higher revenues.

The company revealed that its revenues almost doubled, reaching Rs 994 crore, up from Rs 507 crore in the corresponding quarter of the previous fiscal year. An indication of its robust growth, IWL's order book now stands at 3,286 MW, a 28% rise compared to 2,575 MW recorded in the prior year.

Devansh Jain, Executive Director of INOXGFL Group, which includes IWL, expressed confidence in the company's growth trajectory. He emphasized that the company's expansion into new ventures has enriched its offerings across the renewables ecosystem. IWL remains a key player in India's wind energy solutions sector, serving a diverse clientele ranging from independent power producers to corporate investors.

(With inputs from agencies.)