Suzlon Energy Q2 Results: Tax write-back aids net profit, margins expand

Shares of Suzlon Energy Ltd. recovered from the lows of the day in response to its quarterly results that were reported on Tuesday, November 4.

The company's net profit surged to ₹1,278 crore from ₹200 crore during the same quarter last year. The profit was aided by a tax write-back of ₹718 crore. Even after the adjustment, the profit would still be up by more than 100% on a year-on-year basis.

Revenue for the quarter increased by 84% year-on-year to ₹3,870 crore, from ₹2,103 crore, while Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased to ₹720 crore, which is a 2.5x jump from the ₹293.4 crore it reported during the same quarter last year.

EBITDA margin for the quarter expanded by 460 basis points on a year-on-year basis to 18.6% from 14%.

Shares of Suzlon Energy had a spike after the results announcement, but are off those highs, currently trading 0.4% higher at ₹59.46.