India

India

Inox posts second quarter profit

INDIA: In a difficult period for the wind industry, Inox Wind posted profit for the second consecutive quarter on the back of an existing ready-to-go order book.

Inox Wind posted a second consecutive quarterly profit in July-September
Inox Wind posted a second consecutive quarterly profit in July-September

Inox ended the July-September quarter with revenue of $61 million and a modest profit of $0.28 million, compared with a revenue of $11.3 million and a loss of $6.5 million in the corresponding quarter of 2017.

It had posted profit of $1.14 million in the previous quarter on the back of starting to deliver projects procured in the first federal auction round.

In an industry crippled by grid access and connectivity, Inox has 500MW of capacity it won under the first two federal auctions ready — with grid access arranged.

Reporting the financial performance, the management added the company is in advanced discussion for more than 600MW in orders from successfully auctioned sites.

The company also announced launch of a 3MW turbine platform to cater to the competitive market in India.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in

Windpower Monthly Events


Latest Jobs