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					</table><p>Wind energy solution provider <a href="https://www.iwel.co.in/" target="_blank" rel="noopener">Inox Wind</a> has reported its highest-ever quarterly profit in the fourth quarter (Q4) of the financial year (FY) 2025.</p>
<p>The company reported a profit after tax of ₹1.9 billion (~$22.2 million), a 391% year-over-year (YoY) increase from ₹390 million (~$4.5 million).</p>
<p>Its revenue increased 130% to ₹13.11 billion (~$153 million) from ₹5.69 billion (~$66.6 million) in the same period of the previous year.</p>
<p>Inox Wind’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 103% to ₹2.9 billion (~$33.9 million) in Q4 from ₹1.43 billion (~$16.7 million) in the same period the previous year.</p>
<p>The company’s earnings per share (EPS) came in at ₹1.15 (~$0.013), compared to ₹0.24 (~$0.0028) in Q4 FY 2024.</p>
<p>The company’s key customers include NTPC, CESC, NLC India, Hero Future Energies, Inox Clean Energy, Continuum, Integrum, and Amplus.</p>
<p><strong>Full Year</strong></p>
<p>Inox Wind’s order book grew to 3.2 GW; a 21% YoY increase from 2.6 GW.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-80233 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/06/inox-final.png" alt="" width="602" height="254" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/06/inox-final.png 602w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/06/inox-final-300x127.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/06/inox-final-600x253.png 600w" sizes="(max-width: 602px) 100vw, 602px" /></p>
<p>Its revenue saw a 105% YoY increase from ₹18.08 billion (~$211.7 million) to ₹37.03 billion (~$433.6 million). The net profit stood at ₹4.38 billion (~$51.2 million), up from a loss of ₹480 million (~$5.6 million) in the previous year.</p>
<p>At the end of FY 2025, its EBITDA was ₹9.18 billion (~$107 million), rising 167% from the preceding year.</p>
<p>The EPS came in at ₹2.75 (~$0.032), compared to last year’s loss per share of ₹0.28 (~$0.0033).</p>
<p>The company executed over 3 GW of projects across India.</p>
<p>In 2024, Inox executed its single largest wind project order of 1,500 MW – a mix of turnkey and equipment supply. Its manufacturing capacity stood at over 2.5 GW by the end of the year.</p>
<p>The company <a href="https://www.mercomindia.com/inox-wind-q4-fy24-revenue" target="_blank" rel="noopener">reported </a>revenue of ₹9.94 billion (~$114.02 million) in Q3 FY 2025, a 96% YoY increase from ₹5.07 billion (~$58.16 million).</p>
<p>In September last year, Inox Wind Energy <a href="https://www.mercomindia.com/inox-wind-secures-%E2%82%B922-billion-financing-from-icici-bank-led-consortium" target="_blank" rel="noopener">signed</a> an agreement with a consortium of banks led by ICICI Bank for a financing facility of ₹22 billion (~$263.54 million).</p>


Inox Wind Logs Highest-Ever Quarterly Profit in Q4, Order Book Grows 21%


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					</table><p><a href="https://www.tatapower.com/" target="_blank" rel="noopener">Tata Power</a>, an integrated power company, reported a profit after tax (PAT) of ₹13.06 billion (~$152 million) in the fourth quarter (Q4) of the financial year (FY) 2025, a 25% year-over-year (YoY) growth from ₹10.46 billion (~$122.3 million).</p>
<p>The company’s quarterly revenue stood at ₹172.38 billion (~$2 billion), growing 7% from the same period of the previous year.</p>
<p>Higher power sales from all generating projects, ramp up of all solar module and cell lines in Tirunelveli, and significant strides in solar rooftop business pan-India contributed significantly to the overall growth.</p>
<p>The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 14% to ₹38.29 billion (~$447.3 million) from ₹33.58 billion (~$392.3 million) in the same period of the previous year.</p>
<p>The increase in EBITDA can be attributed to the strong performance across the core businesses comprising generation, transmission and distribution, and renewables.</p>
<p>Praveer Sinha, CEO and Managing Director, Tata Power, said, &#8220;FY25 has been a remarkable year for Tata Power, with the company achieving a record-breaking PAT exceeding ₹50 billion (~$584.69 million), driven by exceptional contributions across all our business segments. Our rooftop solar business has performed impressively, reaching over 1.5 lakh installations, with a total installed capacity of 3 GW.”</p>
<p>Tata Power’s solar cell and module manufacturing capacity is 4,900 MW each. The company has 9,935 MW of renewable energy capacity under construction.</p>
<p>It has a nearly 3 GW capacity under development across states such as Karnataka and Maharashtra. It has also secured over 6,800 MW of grid connectivity and acquired more than 30,000 acres of land for setting up the ongoing 5.4 MW of projects in the pipeline.</p>
<p><strong>Full Year</strong></p>
<p>Tata Power reported its highest-ever revenue of ₹645.04 billion (~$7.5 billion) in FY 2025, increasing 26% YoY.</p>
<p>The company crossed the ₹500 billion (~$5.8 billion) mark for the first time since its operations.</p>
<p>Its utility scale and group captive solar engineering, procurement, and construction (EPC) order book stood at ₹113.81 billion (~$1.3 billion), and the rooftop solar EPC order book was at ₹8.64 billion (~$101 million).</p>
<p>Tata Power’s PAT increased 12% from ₹42.8 billion (~$500 million) in FY 2024 to ₹47.75 billion (~$557.9 million) in FY 2025.</p>
<p>The company’s EBITDA reported a 14% YoY increase to ₹144.68 billion (~$1.6 billion). Its earnings per share came in at ₹13.53 (~$0.16), increasing 29% from ₹10.43 (~$0.12) in the previous year.</p>
<p>In FY 2025, Tata Power commissioned over 2.5 GW of renewable capacity—comprising 1 GW of in-house utility-scale projects, 600 MW of rooftop solar (~782 MWp), and 900 MW for third-party customers.</p>
<p>The company successfully supplied over 64.7 billion units of electricity to the grid through its portfolio of conventional and renewable generation assets.</p>
<p>Tata Power’s PAT for its renewable business in Q3 FY 2025 <a href="https://www.mercomindia.com/tata-power-sustains-growth-momentum-pat-up-10-yoy-in-q3-fy-2025" target="_blank" rel="noopener">grew</a> 59% to ₹2.14 billion (~$25 million) in the third quarter of 2024.</p>
<p>The second quarter revenue <a href="https://www.mercomindia.com/tata-power-profit-q2-fy-2025" target="_blank" rel="noopener">stood</a> at ₹152.47 billion ($1.81 billion), reflecting a slight 1% YoY decline.</p>


Tata Power Hits Record Revenue of ₹645 Billion in FY 2025 on Higher Sales


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					</table><p>Indian Energy Exchange (<a href="https://www.iexindia.com/" target="_blank" rel="noopener">IEX</a>) reported a consolidated profit after tax of ₹1.17 billion (~$13.7 million) in the fourth quarter (Q4) of the financial year (FY) 2025, a 21.1% increase year-over-year (YoY) from ₹967 million (~$11.3 million).</p>
<p>Consolidated revenue stood at ₹1.7 billion (~$19.9 million), a 17% increase from ₹1.49 billion (~$17.4 million). The growth can be attributed to the highest-ever quarterly traded electricity volume of 31.7 billion units (BU), an increase of 18% YoY.</p>
<p>In Q4, 6.8 million Renewable Energy Certificates (REC) were traded, a 108% YoY increase. This is the highest number of RECs traded in a quarter ever.</p>
<p>For FY 2025, IEX announced a consolidated profit after tax of ₹4.29 billion (~$50.2 million), up 22.3% from ₹3.5 billion (~$40.9 million).</p>
<p>The company’s consolidated revenue increased 19.3% YoY from ₹5.5 billion (~$64.3 million) to ₹6.5 billion (~$76.1 million).</p>
<p>The year also saw the highest quarterly traded electricity volume of 121 BU, an 18.7% rise from the previous year. The number of RECs also increased 136.3% YoY to reach 17.8 million in FY 2025.</p>
<p>IEX’s electricity market share for FY 25 stood at 84.2%. The company’s earnings per share were recorded at ₹4.83 (~$0.05), an increase from ₹3.94(~$0.04).</p>
<p>In FY 25, Real Time Market (RTM) and green markets registered substantial growth of 29% and 171% YoY, respectively. The collective (Day Ahead Market, RTM, G-DAM) remained steady at 80% of IEX’s volumes.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-25-154755.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-78941 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-25-154755.png" alt="" width="656" height="372" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-25-154755.png 656w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-25-154755-300x170.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-25-154755-650x369.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-25-154755-624x354.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-25-154755-600x340.png 600w" sizes="(max-width: 656px) 100vw, 656px" /></a></p>
<p>In Q3, IEX <a href="https://www.mercomindia.com/iex-reports-16-9-growth-in-q3-fy-2025-profit-trades-30-5-bu-of-energy" target="_blank" rel="noopener">reported</a> a consolidated revenue of ₹1.605 billion (~$19.32 million) for the third quarter ofFY 2025, up 13.7% YoYfrom ₹1.412 billion (~$17.02 million).</p>
<p>It <a href="https://www.mercomindia.com/green-energy-trade-on-iex-up-85-yoy-in-february-2025" target="_blank" rel="noopener">traded</a> 552 million units (MU) of green energy in February 2025, an 85% YoY increase from 298 MU. The Green Day-Ahead Market traded 519 MU during February with a weighted average price of ₹4.59 (~$0.052)/kWh, an increase of 95% YoY from 266 MU.</p>


Trading Volume Surge Pushes IEX Revenue Up 17% in Q4 FY 2025  


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					</table><p>U.S.-based solar tracker firm <a href="https://www.nextracker.com/" target="_blank" rel="noopener">Nextracker</a> has reported a net profit of $115.28 million in the third quarter (Q3) of the financial year (FY) 2025, a 178.48% year-over-year (YoY) growth from $41.4 million.</p>
<p>Increased bookings for its tracker software drove the growth.</p>
<p>The company’s consolidated revenue fell 4.37% YoY to $679.36 million in Q3 FY 2025 from $710.43 million. Solar tracker system sales contributed the most to the company’s revenue.</p>
<p>Nextracker’s earnings before interest, taxes, depreciation, and amortization (EBITDA) was up 10.7% YoY to $186 million in Q3 FY25 from $168 million.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/next-3.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-75964 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/next-3.png" alt="" width="903" height="396" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/next-3.png 903w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/next-3-300x132.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/next-3-768x337.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/next-3-650x285.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/next-3-624x274.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/next-3-600x263.png 600w" sizes="(max-width: 903px) 100vw, 903px" /></a></p>
<p>The earnings per share (EPS) fell to $0.79 from $0.87 in Q3 FY 2024.</p>
<p><strong>9M Results</strong></p>
<p>In the first nine months (9M) of FY 2025, the company reported a 248.61% YoY surge in net profit to $352.37 million from $101.08 million.</p>
<p>Nextracker’s consolidated revenue jumped 15.39% YoY to $2.03 billion from $1.76 billion.</p>
<p>The company’s EBITDA surged 48% YoY to $534 million in 9M FY25 from $361.8 million.</p>
<p>The EPS was $2.41 against $1.86 during the same period the previous year.</p>
<p>The company expanded its manufacturing and supply chain network to over 70 manufacturing partners operating more than 90 facilities across 19 countries, totaling over 50 GW/year of capacity.</p>
<p>Backlogs increased significantly to over $4.5 billion, driven by robust demand in the company&#8217;s key regions.</p>
<p>The company shipped its first 100% U.S. domestic content solar trackers and expanded its U.S. research and development (R&amp;D) facility and Customer Center of Excellence. It also set up an R&amp;D Center for Solar Excellence in Hyderabad, India and an Expanded Center for Solar Excellence in Brazil.</p>
<p>The company has partnered with UC Berkeley and launched CAL-NEXT Center for Solar Energy Research by investing a $6.5 million commitment to advance solar technology.</p>
<p>Dan Shugar, Founder and CEO, Nextracker, said that the U.S. Department of Energy forecasts 15% to 20% power demand growth over the next decade. Solar power dominated the capacity additions, with nearly 7,000 solar and solar plus storage projects in the queue. Solar power remains the most practical power generation source in the U.S. grid and many global electric systems.</p>
<p>He noted that 75% of total bookings in the quarter covered a diverse mix of new project contracts in over 20 U.S. states. Nextracker’s new foundations business is currently focused on the U.S. market to secure additional business. The company believes that customers are expressing greater interest in its solutions, which combine the NX Horizon tracker platform with foundations covering a range of soil conditions.</p>
<p>The company reported increased bookings for its Hail Pro-75 tracker and Hail Pro software with automated-stowing features aimed at protecting systems during severe storms.</p>
<p>Nextracker has signed contracts in 13 countries in Latin America, Europe, Africa, and the Middle East, and also in Australia and India.</p>
<p>Shugar added that the company signed 15 new project agreements in these regions in Q3 FY 2025 and is also receiving international interest for its XTR and TrueCapture software.</p>
<p>The company views the U.S. Treasury Department’s updated rules regarding domestic content positively, expecting them to help Nextracker achieve the 10% investment tax credit bonus. The company plans to charge a modest premium, reflecting the increase in the cost of its domestic content supply.</p>
<p>The company estimates a revenue of $2.8 billion to $2.9 billion at the end of FY 2025.</p>
<p>Nextracker’s net profit <a href="https://www.mercomindia.com/nextracker-posts-seventh-consecutive-quarter-of-double-digit-revenue-growth" target="_blank" rel="noopener">climbed</a> 193.9%YoY to $115.39 million in Q2 of FY 2025 from $39.25 million.</p>


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