India's Inox Wind narrows loss in fiscal Q1, revenues rise 74%

Inox Wind Ltd (BOM:539083) today reported a loss from ordinary activities before tax of INR 804.9 million (USD 10.8m/EUR 9.2m) for the fiscal first quarter of 2021/22, narrowed from INR 1.1 billion a year back.

The Indian wind turbine manufacturer posted earnings before interest, tax, depreciation and amortisation (EBITDA) of INR 27 million for April-June 20221 against a loss of INR 260 million for the same period a year earlier.

Gross revenue jumped by about 74% to INR 1.69 billion.

The company said that production and execution during the three-month period was impacted by the second wave of the COVID-19 pandemic, which led to non-availability of oxygen for industrial applications. This has affected the production of towers, while the supply of complete sets was delayed. Now, production and execution are in full swing, it noted.

Presently, Inox Wind’s consolidated order book amounts to 1,300.7 MW.

(INR 1.0 = USD 0.135/EUR 0.115)

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