The shares of this smallcap stock engaged in wind power operation and maintenance (O&M) surged up to 5.6 percent in Friday’s trading session upon making a profit of Rs 5.19 crore compared to a loss in the same period previous year.
Price Action
With a market capitalization of Rs 5,875.94 crore, Inox Green Energy Services Ltd surged 5.6 percent in Friday’s trading session and made an intraday high of Rs 162.65 per share compared to its previous closing price of Rs 154 per share. The stock reiterated from its day’s high and closed at Rs 160.10 which is 3.96 percent higher than the previous closing price.
What Happened
The shares of Inox Green Energy Services Ltd surged after the company reported its Q3FY24-25 results. Its revenue from operations grew by 3.4 percent year on year from Rs 59.96 crore to Rs 61.13 crore in Q3FY25. On a quarter-on-quarter basis, it rose 11 percent from Rs 55.1 crore in Q2FY25.
The net profits stood at Rs 5.19 crore compared to a loss of Rs 1.35 crore in the same period previous year. On a quarterly basis, the net profit fell 14.3 percent from Rs. 6.06 crore.
Further, the company’s EPS substantially increased by 400 percent year on year from Rs 0.03 to Rs 0.15. However, on a quarterly basis, it fell by 12 percent from Rs 0.17
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Company Overview
Inox Green Energy Services Limited provides wind power operation and maintenance (O&M) services through long term contracts. It operates as a subsidiary of Inox Wind Limited and is a part of the Inox GFL group. Inox Wind’s order book of over 3.4 GW ensures strong growth for Inox Green as it is a natural beneficiary.
The group has strategically entered into solar business which will further boost revenue as most customers prefer hybrid RE solutions.Inox Green aims to nearly double its portfolio to 6 GW by FY26 and expand further to 10 GW in the next 3–4 years, up from its current 3.5 GW. Additionally, the company has a strong presence all over India in states such as Gujarat, Maharashtra, Kerala and Tamil Nadu among others.
Written by Shwetha Sairam
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