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Inox Wind (IWL) on Thursday said that its consolidated net loss narrowed to ₹26.84 crore in the July-September quarter in FY24 from Rs 113.81 crore in the year-ago period.
The company had posted a consolidated net loss of ₹64.59 crore in Q1 FY24.
Inox Wind’s consolidated total income during Q2 FY24 was higher at ₹384 crore compared to ₹345 crore in Q1 FY24 and ₹112 crore in Q2 FY23.
IWL said that supply of 3.3-MW wind turbine generators (WTGs) is on track to commence within Q3 FY24. The company’s order execution stood at 143 MW in H1 FY24. The order book stands at 1,276 MW, across 2 MW and 3.3 MW WTGs.
“IWL raised around Rs 460 crore (net of taxes and fees) from promoter stake sale and subsequent capital infusion into IWL in August 2023 strengthening the balance sheet,” the company said.
The company is a fully integrated player in the wind energy market and provides end-to-end turnkey solutions from conception to commissioning to O&M.
It also owns around 61 per cent in Inox Green Energy Services (IGESL), which offers operations & maintenance (O&M) services for wind energy, and has 3.2 GW of assets under management with a presence across all the 8 windy states.
IWL said that it is eyeing O&M portfolio acquisition opportunities through its subsidiary IGESL.
The company has a capacity to manufacture 1,900 MW of nacelle and hubs, 1,600 MW of blades and 600 MW of towers for 2 MW WTG.
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