Mumbai, Aug 7: Wind energy solutions provider Inox Wind Limited on Friday reported a 34 per cent year-on-year (YoY) decline in consolidated net profit for the quarter ended June 30 (Q1 FY27), as weaker operating profitability offset largely stable revenue performance during the period.
Profit declines amid margin pressure
The company’s consolidated net profit declined to Rs 64.1 crore from Rs 97.3 crore in the corresponding period last financial year (Q1 FY26), amid pressure on operating margins, according to its stock exchange filing.
Revenue from operations remained broadly flat during the quarter, slipping 1.5 per cent year-on-year to Rs 814.1 crore from Rs 826.3 crore in the year-ago period.
The company's operating performance weakened as earnings before interest, tax, depreciation and amortisation (EBITDA) fell 17 per cent to Rs 152.5 crore from Rs 183.7 crore a year earlier.
EBITDA margin narrowed to 18.7 per cent from 22.2 per cent, as per its regulatory filing.
Profit metrics under pressure
Profit before tax also declined 31.2 per cent year-on-year to Rs 94.7 crore, compared with Rs 137.6 crore in the corresponding quarter last financial year.
Profit attributable to the owners of the company dropped more sharply to Rs 44 crore from Rs 105.9 crore a year ago.
The decline was partly influenced by a higher share of earnings attributable to non-controlling interests, which reported a profit of Rs 20.1 crore during the quarter against a loss of Rs 8.5 crore in the same period last year.
Also Watch:
Standalone performance and regulatory matters
On a standalone basis, the company posted revenue of Rs 743.5 crore, up 3.9 per cent from Rs 715.6 crore a year earlier.
However, standalone net profit fell 17.5 per cent to Rs 71.5 crore from Rs 86.7 crore. Standalone EBITDA stood at Rs 158.7 crore for the quarter.
Among the issues highlighted were investments in six special purpose vehicles through inter-corporate deposits and bank guarantees amounting to Rs 55.78 crore, which remain subject to ongoing regulatory proceedings.
The company said it expects recovery of the deposits and release of the guarantees upon resolution of the matters.
(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
