Now Reading: Inox Wind profit plunges 59%, Ola Electric narrows loss in Q1
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Inox Wind profit plunges 59%, Ola Electric narrows loss in Q1
Inox Wind reported a 58.5% drop in consolidated net profit to Rs 44 crore for the June quarter, while revenue slipped 1.5% to Rs 814 crore. EBITDA fell 16.9% to Rs 152.4…
The Story in Brief
Inox Wind reported a 58.5% drop in consolidated net profit to Rs 44 crore for the June quarter, while revenue slipped 1.5% to Rs 814 crore. EBITDA fell 16.9% to Rs 152.4 crore and margin narrowed to 18.7% from 22.2% a year ago, indicating cost pressures. Ola Electric Mobility saw net loss narrow 21.5% to Rs 336 crore from Rs 428 crore year-on-year, though revenue declined 45% to Rs 455 crore. It raised Rs 780 crore via a Qualified Institutional Placement at Rs 35.86 per share for capex and debt repayment.
The Indian Opinion
Inox Wind's 59% profit drop and Ola Electric's 45% revenue slide are being spun as sector-wide headwinds, but the stories differ sharply. Inox blames cost pressures and margin erosion from 22.2% to 18.7%, while Ola's loss narrowed 21.5% and revenue jumped 72% quarter-on-quarter. The real test is execution: can Inox Wind convert its order book into margins, and will Ola Electric's QIP-funded turnaround sustain beyond one quarter? The next quarter's cash flow statements will answer both.
Sources (2): ndtvprofit.com, news.abplive.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
