Inox Wind swings to profit in 3rd consecutive quarter

Photo by: Inox Wind (www.inoxwind.com).

February 8 (Renewables Now) - Inox Wind Ltd (BOM:539083) has registered its third consecutive quarter of profitability, posting an after-tax profit of INR 20 million (USD 280,700/EUR 247,400) for October-December 2018 versus a loss of INR 460 million a year back.

The Indian wind turbine maker turned to positive earnings before interest, tax, depreciation and amortisation (EBITDA) of INR 610 million in the third fiscal quarter through December 31, 2019 from a loss of INR 180 million in the same period of 2018.

“The company continues to be profitable for the third consecutive quarter and is well poised to strengthen its execution and delivery in coming quarters,” commented executive director Devansh Jain.

Revenues jumped to INR 3.91 billion from INR 910 million.

(INR 1.0 = USD 0.140/EUR 0.124)

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