Inox Wind Q4 net profit jumps over 5-fold to Rs 190 cr

New Delhi: Inox Wind Ltd (IWL) on Friday posted over five-fold jump in consolidated net profit to Rs 190.34 crore in the March quarter, driven by a surge in revenues.

It had posted a net profit of Rs 38.74 crore in the fourth quarter of the preceding 2023-24 financial year, the company said in an exchange filing.

The company's income more than doubled to Rs 1,310.65 crore during the January-March FY25 from Rs 569.04 crore in Q4 FY24.

For the entire FY25, the company reported a net profit of Rs 437.62 crore. It had clocked Rs 48.16 crore loss in FY24.

Devansh Jain, Executive Director, INOXGFL Group, said, "Inox Wind continues to deliver strong results reporting its highest ever quarterly profit. I also announce that the NCLT has approved the scheme of arrangement between Inox Wind Energy and Inox Wind, which further fortifies Inox Wind's balance sheet".

The Board of Directors further approved the appointment of Sanjeev Agarwal as the Chief Executive Officer (CEO) of the company, who shall also be designated as a Key Managerial Personnel of the company effective June 1, 2025.

Agarwal will assume the role in place of Kailash Lal Tarachandani, the outgoing CEO, who has been elevated to the role of Group Chief Executive Officer - Renewable Business of INOXGFL Group.

He continues to be the part of Senior Management Personnel of the company.

Tarachandani said, "Our diversified order book stands at a healthy 3.2 GW comprising of marquee customers including NTPC, CESC, NLC India, Continuum, Amplus, Hero Future Energies, amongst others. We believe that with the robust outlook for the wind industry in India, demand for wind OEMs and service providers will continue to be strong going ahead".

The company's FY25 order inflows stood at 1.5 GW.

Part of the USD 11 billion INOXGFL Group, Inox Wind Limited is India's leading wind energy solutions provider, servicing independent power producers (IPPs), utilities, public sector units (PSUs) and corporate investors.