Wind energy solutions provider Inox Wind reported a revenue of ₹9.94 billion (~$114.02 million) in the third quarter (Q3) of the financial year (FY) 2025, a 96% year-over-year (YoY) increase from ₹5.07 billion (~$58.16 million).

The company’s quarterly earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose 192% YoY to ₹2.9 billion (~$33.26 million) from ₹994.9 million (~$11.41 million).

The company’s quarterly net profit sustained its growth momentum from the previous quarters, reaching ₹1.12 billion (~$12.84 million) from ₹18.1 million (~$207,612).

The company’s quarterly wind installations increased by 82% YoY to 189 MW compared to 104 MW in the corresponding quarter last year. The company’s order book rose by 28% YoY to 3,286 MW from 2,575 MW.

The company stated that a new nacelle plant near Ahmedabad, Gujarat, is set to begin operations in Q4 FY25.

9M FY25

Inox Wind reported a revenue of ₹23.86 billion (~$273.68 million) in the first nine months (9M) of FY25, a 93% YoY increase compared to ₹12.36 billion (~$141.77 million).

The company’s 9M EBITDA also rose 212% YoY to ₹6.36 billion (~$72.95 million) from ₹2.04 billion (~$23.39 million).

The company’s net profit stood at ₹2.52 billion (~$28.91 million), compared to a net loss of ₹896.4 million (~$10.28 million) in 9M FY24.

The company’s quarterly wind installations increased by 90% to 469 MW from 247 MW in the corresponding quarter last year.

Inox Wind revenue grew 93% YoY to ₹7.42 billion (~$88.24 million) in Q2 FY25 from ₹3.84 billion (~$45.66 million).

In December 2024, INOXGFL Group announced its foray into solar manufacturing through Inox Solar, a privately held entity by the promoters. Inox Solar targets an initial capacity of 5 GW of solar modules and 2.5 GW of solar cell manufacturing capacity by 2026 with a capital expenditure of ₹15 billion (~$176.73 million). The group’s venture into solar manufacturing is expected to open new opportunities in hybrid projects.

Earlier, IGREL Renewables, a renewable power generation platform of the INOXGFL Group, raised ₹3 billion (~$35.8 million) in equity capital from prominent investors. The capital infusion will support IGREL Renewables’ expansion of its renewable energy portfolio. Investors, including Akash Bhansali, Rohit Kothari, and Madhusudan Kela, participated in the equity raise through their respective entities.