Wind turbine manufacturer Suzlon Energy recorded a net revenue of ₹20.16 billion (~$241.02 million) during the first quarter (Q1) of the financial year (FY) 2025, a year-over-year (YoY) increase of 50% as compared to ₹13.48 billion (~$161.16 million).

The company posted a net profit of ₹3.02 billion (~$36.1 million), a 200% YoY increase from ₹1.01 billion (~$12.07 million).

Suzlon’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹3.7 billion (~$44.23 million), a YoY increase of 86%, from ₹1.99 billion (~$23.79 million). This is Suzlon’s highest quarterly EBITDA in seven years.

As per the bourse filing, a fortified balance sheet with adequate working capital facilitated a growth of 103% YoY and an improvement in EBITDA. Additionally, the contribution margin for the wind turbine generator division improved to 22.4% in Q1 FY 2025 from 20.9% in Q1 FY 2024.

“We are consistently performing in line with our business plan with one of our best Q1 performances in a long time. We continued our strategic focus on strengthening our operational performance across businesses and building the leadership bandwidth. However, our top priority remains timely execution of our robust order book while upholding the highest standards of quality and ESG,” said JP Chalasani, Chief Executive Officer of Suzlon Group.

As of June 30, 2024, the company had ~20.8GW of installed wind energy capacity and a roughly 32% cumulative market share in India.

The company recorded its highest Q1 deliveries in seven years at 274 MW, compared to 135 MW in the corresponding quarter last year. Suzlon also saw its largest-ever order book at 3.8 GW since inception.

Suzlon exhibited robust performance due to structural improvements in its wind turbine generator division, driven by strong commercial fundamentals and a lower levelized energy cost, fueling demand in the commercial and industrial sectors. The company noted that wind tariffs are optimal for all key stakeholders, including customers, original equipment manufacturers, and financial institutions.

Suzlon recorded a total income of ₹21.79 billion (~$262 million) during the fourth quarter of 2024, a YoY increase of 29.85% compared to ₹17 billion (~$204.6 million).

Last October, Suzlon announced raising ₹12 billion (~$146.4 million) through a rights issue of 2.4 billion partly paid-up equity shares.