Investors of Suzlon Energy, India’s leading wind energy company, earned another big profit today as the company’s shares saw a strong movement. Suzlon Energy’s share reached the lower circuit within 11 minutes of the market opening on Thursday. Prior to this, in the last three trading sessions, the shares were consistently at lower levels. The company recently presented its second quarter (Q2) results, in which it reported a profit of Rs 102 crore. Suzlon Energy’s shares have been multibagger in the past year, giving a return of 396%. The stock has given a return of 315% in the last six months. On Wednesday, the share closed at Rs 37.35. The company’s market capitalization on BSE reached approximately Rs 53,187 crore on November 23, 2023. The stock has seen a rise of 266% so far in 2023.
Despite an unexpected loss of Rs 34.99 crore for the quarter, the company reported a net profit of Rs 102.29 crore in the second quarter, compared to Rs 56.47 crore for the same period last year. The company’s revenue for the quarter ended September 2023 was Rs 1,417 crore, compared to Rs 1,430 crore for the same quarter last year. The operating profit of the company increased by 32.6% to Rs 225 crore, compared to Rs 169.7 crore a year ago. Suzlon Energy is a debt-free company, and its balance sheet is now debt-free. According to company management, the response from customers for the existing portfolio of wind turbines is excellent, and the company’s current order book is 1613 megawatts. For the remaining period of the fiscal year, the company’s focus is on executing the order book. Suzlon Energy is the largest company in the wind energy sector. It has a 33% stake in the domestic market and has an operational wind energy capacity of 20 gigawatts globally. Recently, credit rating agency CRISIL upgraded the company’s rating from CRISIL BBB-/A3 to CRISIL BBB+/A2 with a stable outlook for long-term and short-term facilities.
★Suzlon Energy’s share price witnessed a strong movement, reaching the lower circuit within 11 minutes of market opening on Thursday.
★In the previous three trading sessions, the shares were consistently trading at lower levels.
★The company recently announced its second quarter results of the financial year 2024, recording a profit of INR 102 crore.
★The shares of Suzlon Energy have been a multi-bagger in the past year, delivering a return of 396%.
★In the last six months, the stock has provided a return of 315%.
★The share price closed at INR 37.35 on Wednesday.
★As of 23rd November 2023, the market capitalization of Suzlon Energy on BSE was around INR 53,187 crores.
★The stock has surged by 266% in 2023 so far.
★The company reported a net profit of INR 102.29 crores in the second quarter, compared to INR 56.47 crores in the same period last year.
★Despite an unexpected loss of INR 34.99 crores for the quarter, the company’s profit increased.
★Suzlon Energy’s revenue for the quarter ending September 2023 stood at INR 1,417 crores, slightly lower than the previous year’s revenue of INR 1,430 crores.
★The company’s operating profit increased to INR 225 crores, compared to INR 169.7 crores a year ago.
★Suzlon Energy is a debt-free company, with a balance sheet free from any outstanding loans.
★The company’s management stated that the customer response for its existing portfolio of wind turbines is excellent, and the current order book stands at 1613 megawatts.
★For the remaining period of the financial year, the company’s focus is on the execution of the order book.
★Suzlon Energy is the largest company in the wind energy sector in the country, holding a 33% market share in the domestic market.
★The company has a global installed wind energy capacity of 20 gigawatts.
★Recently, credit rating agency CRISIL upgraded the company’s rating from CRISIL BBB-/A3 to CRISIL BBB+/A2, with a positive outlook for long-term and short-term facilities.
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