MUMBAI–Suzlon Energy reported a 69% decline in consolidated net profit for the second quarter of fiscal 2027, even as the Indian renewable energy company recorded double-digit revenue growth supported by increased project execution and commissioning activities.
The company’s consolidated net profit fell to Rs 394 crore during the July-September quarter, compared with Rs 1,279 crore in the corresponding period of the previous fiscal year.
Revenue from operations increased 26% to Rs 4,875 crore, up from Rs 3,871 crore a year earlier, reflecting continued demand for wind energy projects and higher execution activity.
Despite the revenue increase, operating profitability remained under pressure. Earnings before interest, taxes, depreciation and amortization (EBITDA) declined slightly to Rs 719 crore from Rs 721 crore in the year-earlier quarter.
Suzlon’s EBITDA margin narrowed to 14.7%, compared with 18.6% during the same period last year.
The company attributed part of the sharp decline in reported net profit to a one-time tax-related benefit recorded in the previous fiscal year.
Rahul Jain, chief financial officer of Suzlon Group, said the second quarter of fiscal 2026 included the creation of a deferred tax asset worth Rs 891 crore. Excluding that one-time benefit, the company’s underlying profitability showed stronger year-over-year improvement.
Jain said Suzlon achieved 26% revenue growth despite fluctuations in commodity prices and currency markets, supported by disciplined project execution and operational efficiencies.
The company also reported that its net worth exceeded Rs 10,000 crore, while its order book remained above 6 gigawatts (GW), providing visibility into future project execution and revenue opportunities.
During the first half of fiscal 2027, Suzlon secured more than 1.5 GW in new orders, reflecting demand across multiple customer segments.
Engineering, procurement and construction (EPC) projects represented 38% of the company’s total order book, compared with 22% in the first quarter of fiscal 2026.
The growing share of EPC contracts is consistent with Suzlon’s strategy to increase their contribution to 50% of its order book by fiscal 2028.
Public sector undertakings and commercial and industrial customers collectively accounted for 78% of the company’s order book.
Suzlon also commissioned 723 megawatts (MW) of wind energy capacity during the first six months of fiscal 2027.
Projects completed during the period included installations for Juniper Green Energy, Aditya Birla Renewables Limited, Zelestra and Brookfield Yanara.
Jain said the company remains focused on expanding its manufacturing capacity and strengthening project execution capabilities while maintaining financial discipline.
He added that Suzlon continues to prioritize operating margins, cash flow management and capital allocation as it works to capitalize on demand in India’s renewable energy market.
While the company’s reported quarterly profit declined sharply, its growing revenue, substantial order book and increased project activity indicate continued expansion in its wind energy business. (Source: IANS)
