Suzlon Energy on Friday recorded a fiscal fourth quarter profit at Rs 254.12 crore, down 20.6 per cent in comparison to Rs 319.99 crore during the corresponding quarter of previous fiscal year. It posted revenue from operations at Rs 2179.20 crore, up 29 per cent as against Rs 1689.91 crore during the fourth quarter of FY23. The company EBITDA stood at Rs 357.2 crore, up 54 per cent on-year.
While the total income recorded during Q4FY24 was at Rs 2207.43 crore, total expenses incurred by the company during the quarter in review stood at Rs 1927.49 crore. The company recorded its largest ever order book of 3.3 GW.
For the full year, Suzlon Energy reported a revenue of Rs 6497 crore and profit at Rs 714 crore.
Girish Tanti, Vice Chairman, Suzlon Group, said, “We have been able to create a solid foundation over the last FY across all business verticals of technology, manufacturing, projects, and OMS. This positions the company strongly to lead the sector in years to come. We stacked up our largest ever order book of value‐driven orders for more than 3.3 GW. We also added several leading Indian conglomerates to our customer portfolio with long‐term relationships and repeat orders. Recognising the importance of securing a resilient and rapidly scalable supply chain in our growth journey, Suzlon undertook several initiatives in FY24 to develop vendor ecosystems across our value chain with a consistent focus on lowering the cost of electricity while increasing access to affordable renewable energy.”
Himanshu Mody, Chief Financial Officer, Suzlon Group, said, “FY24 has been a year of sound financial performance across all parameters. Our consolidated balance sheet is strengthened with a sizable net worth of Rs 3,920 crore, consolidated PAT of Rs 714 crore, and a landmark EBITDA of Rs 1,029 crore. This year saw profits and profit growth across all four quarters. We continue to maintain a cost‐conscious approach even while factoring in our growth plans. Our priority remains timely execution of our order book, and I believe that we are moving in the right direction.”