Wind solutions provider Suzlon Energy’s net profit jumped year-over-year (YoY)  97.05% to ₹2.01 billion (~$23.90 million) in the second quarter (Q2) of the financial year (FY) 2024-25 from ₹1.02 billion (~$12.13 million).

The company’s revenue rose 48.42% to ₹21.21 billion (~$252.26 million) in Q2 from ₹14.29 billion (~$169.96 million) in the same period last year.

Suzlon’s Earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose 30.66% to ₹2.94 billion (~$34.96 million) from ₹2.25 billion (~$26.76 million).

The company’s order book stands at 5.1 GW. The commercial and industrial and captive and retail sectors accounted for 2.7 GW, central and state projects accounted for 1.2 GW , and public sector undertakings 1.2 GW.

Suzlon has a 20.9 GW global installed wind energy capacity. The company has an installed base of 15 GW in India and more than 9,900 turbines installed.

1H results

In the first half (1H) of FY25, the company’s revenue increased 49.31% YoY to ₹41.66 billion (~$495.49 million) from ₹27.9 billion (~$331.83 million).

The company’s net profit also soared 147.78% YoY to ₹5.03 billion (~$59.82 million) from ₹2.03 billion (~$24.14 million).

Suzlon  signed a 1,166 MW  wind energy order from NTPC Green Energy to install a total of 370 wind turbine generators of S144 equipped with a Hybrid Lattice Tubular tower and a rated capacity of 3.15 MW each.

The company also executed definitive agreements to acquire a 76% stake in Renom Energy Services in two tranches from the Sanjay Ghodawat Group.

It received a 400 MW wind order from JSP Green Wind 1, a special-purpose vehicle of Jindal Renewables.

In Q1 FY25, Suzlon Energy recorded net revenue of ₹20.16 billion (~$241.02 million), a 50% YoY increase from ₹13.48 billion (~$161.16 million).

In Q4 FY24, the company’s total income reached ₹21.79 billion (~$262 million), a 29.85% YoY increase from ₹17 billion (~$204.6 million).