Renewable energy solutions provider Suzlon Energy reported a substantial 160% surge in its consolidated net profit, reaching Rs 203.04 crore for the quarter ended December 31, 2023. The impressive growth, compared to the Rs 78.28 crore net profit in the same quarter of the previous year, is attributed to higher revenues, according to the regulatory filing.
Total income for the third quarter rose to Rs 1,569.71 crore from Rs 1,464.15 crore in the corresponding period a year ago. Girish Tanti, Vice Chairman at Suzlon Group, commented on the strong Q3 performance, stating that impactful policies are driving India’s renewable energy vision forward.
JP Chalasani, Chief Executive Officer of Suzlon Group, highlighted the positive performance of the service business and the company’s focus on enhancing customer experience and organizational structure. Himanshu Mody, Chief Financial Officer of Suzlon Group, noted consistent improvement in performance across various parameters, including healthier margins, a net cash position, and higher year-on-year EBIDTA.
Suzlon Group, headquartered in Pune, India, is a global leader in renewable energy solutions, boasting 20.5 GW of wind energy capacity installed across 17 countries.