Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Inox Wind rises 10% as company turned profitable in Q1

8 August, 2018 4:19 AM
95 0
Inox Wind rises 10% as company turned profitable in Q1

Share price of Inox Wind rose 10 percent in the early trade on Wednesday as company turned profitable in the quarter ended June 2018.

The company has registered net profit of Rs 10.37 crore in Q1FY19 versus loss of Rs 39.02 crore in the same quarter last fiscal.

Its EBITDA profit was at Rs 70 crore as compared to EBITDA loss of Rs 13 crore.

Devansh Jain, Executive Director of Inox Wind said, "The April-June quarter has shown a turn around on the profitability front after a painful transition period of the past 12 months led by the start of execution of our SECI-1 project."

"We have returned to profitability after a 4 quarter gap and we are looking to ramp up execution in the coming quarters of FY19," he said.

At 09:47 hrs Inox Wind was quoting at Rs 103.50, up Rs 4.65, or 4.70 percent on the BSE.

Also read: Volatile market ends 1% higher, but 8 stocks gave 8-29% return last week


Share in social networks:

Comments - 0