Inox Wind shares soared as much as 6.18 per cent on Monday after the wind energy solutions provider said it has bagged cumulative orders worth over Rs 2,000 crore for the supply and installation of wind turbine generators of 350 megawatt (MW). The order is expected to be commissioned by March 2017. At 1.59 am, shares of Inox Wind were trading 3.38 per cent up at Rs 206.70. The scrip opened the day at Rs 204 and has touched a high and low of Rs 212.30 and Rs 204, respectively, in trade so far. Benchmark BSE Sensex was trading 355 points, or 1.27 per cent, up at 28221.02.
In a BSE filing, Inox Wind said, “New orders for the supply and installation of wind turbine generators of 350 MW in total to several repeat customers. The orders cumulatively are worth more than Rs. 2,000 crore”. It further added that the repeat orders from some of the nation’s leading independent power producers and corporates further cement Inox Wind’s leadership position in the Indian wind market.
The projects will be executed on turnkey basis across locations in Gujarat, Andhra Pradesh, and Karnataka. The contracts include supply and commissioning of the wind turbines as well as multi-year operations and maintenance agreements. Inox Wind provides its customers with end to end integrated solutions for the entire wind power value chain.
For the quarter ended June 30, 2016, the company reported a consolidated net profit of Rs 11.82 crore, down 80.44 per cent, against Rs 60.42 crore in the corresponding quarter a year ago.