Suzlon Q4 Results: Reports Profit On Higher Operating Margin, One-Off Gain

Suzlon Energy Ltd. reported profit in the fourth quarter on account of higher operating income and margin, and a one-off gain on sale of assets and subsidiaries.

India’s largest wind turbine manufacturer reported a consolidated net profit of Rs 320 crore in the quarter ended March 31, 2023, according to its exchange filing. That compares with a loss of Rs 205.52 crore over the same period last year.

Suzlon Energy Q4 FY23 Highlights

• Revenue from operations fell 31.53% YoY in the quarter to Rs 1,694.08 crore.

• Operating profit or Ebitda more than doubled to Rs 232.69 crore on lower cost of materials consumed.

• The operating margins were higher by 947 basis points to 13.73% from 4.26% a year ago.

The company had a one-time gain or exceptional income of Rs 251.51 crore during the quarter on sale of foreign subsidiaries and assets such as plants, properties and land.

Shares of Suzlon closed 3.1% higher on Tuesday as compared with a 0.20% gain in the benchmark Sensex.