Suzlon Energy shares rise 5%, profit rises to Rs. 102 crores

Suzlon Energy Share price: Shares of Suzlon Energy rose by 5 percent in early trade today and reached a nine-year high of Rs 34.44 on BSE. The company’s shares are at their highest level since June 2014. It has also surpassed its previous high of Rs 34.10 touched on October 23. Its 52-week low is Rs 6.96.

Suzlon Energy Results

The company has registered an 82 percent jump in its profit after tax on a year-on-year basis. The company has registered a profit of Rs 102 crore for the September quarter mainly due to a decline in expenses. The company had posted PAT of Rs 56 crore in the year-ago quarter.

Suzlon Energy’s market value

So far in the financial year 2023-24, the market value of SuzlonEnergy has also increased by 335 percent. However, the company’s net revenue in this second quarter declined to Rs 1,417 crore from Rs 1,430 crore in the same period a year ago. The company said it has recorded higher EBITDA due to better margins.

Is Suzlon Energy debt-free?

The company became debt-free in August 2023 based on a successful QIP conclusion, leading to a reduction in quarterly net finance costs by approximately 61 percent year-on-year.

In September, CRISIL Ratings upgraded its ratings on Suzlon Energy’s bank facilities with a positive outlook. Rating agency CRISIL said the business profile of the company’s wind turbine business has improved. The company has made cost optimization and rationalization efforts in the last two to three years.

What does Suzlon Energy do?

Suzlon Energy is a renewable energy company that primarily operates in the wind energy sector. They are known for wind turbine manufacturing, maintenance and servicing of wind turbines, wind farm development and renewable energy solutions.

Who owns Suzlon Energy company?

Suzlon Energy is owned by its founder, Tulsi Tanti, and his family. Tulsi Tanti is the Chairman and Managing Director of Suzlon Energy.

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