•  
  •  
  •  

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)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription