Multibagger stock in news today as firm reported profit in Q2 

Shares of Inox Wind are in news today after the firm reported profit in the September 2024 quarter. The green energy player reported a profit of Rs 90 crore in the July-September quarter compared to a loss of Rs 27 crore in the year-earlier period. Inox Wind shares slipped 2.94% to Rs 203 on Friday against the previous close of Rs 209.15 on BSE.  Market cap of Inox Wind slipped to Rs 26,467 crore on BSE.  The earnings were announced after market hours. Total 3.05 lakh shares of the firm changed hands amounting to a turnover of Rs 6.19 crore on BSE.

The multibagger stock has gained 310% in a year and risen 55% in 2024. The stock has climbed 438% in two years.

Revenue rose 93% year-on-year to Rs 742 crore in Q2 from Rs 384 crore in the September 2023 quarter.

Inox Wind is on course to achieve its best-ever full-year profitability in FY25, the company said in a statement. 

The company has won orders worth 1.2 GW and the order book now stands at 3.3 GW. The customers of the company comprise a mix of public sector companies, independent power producers, commercial & industrial, and retail consumers. 

The company executed orders worth 140 MW in the second quarter as against 77 MW in the year-ago period.

“The strong Q2 performance is another firm indication of the massive growth trajectory that Inox Wind is poised to deliver,” said Devansh Jain, executive director, INOXGFL Group.

Inox Wind is an India-based integrated wind energy solutions provider. The company is engaged in the business of manufacture and sale of wind turbine generators (WTGs). It also provides erection, procurement and commissioning (EPC), operations and maintenance (O&M) and common infrastructure facilities services for WTGs and wind farm development services.