News Update

Inox Wind Q1 net up 115% at Rs 50.50 crore

Inox Wind on Monday reported 115 percent increase in consolidated net profit at Rs 50.50 crore for the quarter ended June 30, 2015, against Rs 23.48 crore during the same period of the previous fiscal.

Inox Wind on Monday reported 115 percent increase in consolidated net profit at Rs 50.50 crore for the quarter ended June 30, 2015, against Rs 23.48 crore during the same period of the previous fiscal.

According to the statement, the company’s total income from operations was Rs 635.83 crore in the quarter under review compared to Rs 304.37 crore in the year-ago period.

In a separate filing, it said that during Q1 FY16, the company continued to maintain growth momentum, leading to economies of scale and operating leverage, resulting into savings on variable and fixed costs.

Having posted a revenue growth of 109 percent, INOX wind expects a very high double digit growth this fiscal.

Speaking to CNBC-TV18, Devansh Jain, Promoter and Director, INOX Wind says the company has an orderbook of about 1,220 megawatt “which gives it a visibility for 15 months.” He expects the company’s compound annual growth rate (CAGR) to be slightly lower than 74 percent on taking base affect into account, he adds.