Suzlon Energy slides 5 percent in trade after reporting weak performance in the first quarter of FY24.

Share Market Live

NSE

The revenues declined 2 percent year on year to Rs 1,351 crore from Rs 1,381 crore. The earnings before interest, tax, depreciation and amortisation (EBITDA) is 7 percent lower at Rs 199 crore versus Rs 215 crore in the corresponding quarter of last year. The EBITDA margins are 90 bps lower year on year at 14.7 percent. The net profit this quarter is at Rs 101 crore versus net loss of Rs 36 crore year on year.

Revenues from the wind turbine generator segment lowered to Rs 803 crore versus Rs 831 crore year on year. The Foundry and Forging segment witnessed revenue fall to Rs 111 crore from Rs 120 crore, while the Operation and Maintenance Service segment revenues rose to Rs 493 crore from 453 crore.

The order book of Suzlon Energy as on June 30th 2023 is at 1433 MW, while 149 MW of orders were announced post 30th June 2023. The company says that the roll out of highly competitive 3MW WTG series provides revenue visibility.

First Published:Jul 25, 2023 2:49 PM IST