Profit before tax (PBT) stood at Rs 203.13 in Q3 FY24 steeply higher than Rs 77.59 crore posted in the corresponding quarter last year.

During the quarter, EBITDA stood at Rs 247 crore as against Rs 212 crore posted in corresponding quarter last year. EBITDA margin improved to 15.9% in Q3 FY24 as compared with 14.7% posted in Q3 FY23.

Net cash stood at Rs 719 crore as on 31 December 2023 as against net debt Rs 1,180 as of 31 March 2023.

Girish Tanti, vice chairman, Suzlon Group, said, "In Q3 of FY24, we concluded 2023 on a strong note. The quarter showcased impactful policies propelling India's renewable energy vision ahead.

We deeply appreciate the trust bestowed upon us by our customers and eagerly anticipate collaborating with them to realize their green energy aspirations. The coming decade holds immense promise for renewables globally, and we are on track to strengthen all our strategic pillars to seize this opportunity from a position of strength.”

JP Chalasani, chief executive officer, Suzlon Group, said, "In Q3 FY24, our performance aligns seamlessly with our strategic objectives. During this quarter, our primary emphasis has been on the efficient execution of our order book. Our top priority is to drive operational excellence with unwavering focus towards creating substantial value for all our stakeholders.

Our service business continues to do well. We are concentrating our efforts towards creating a better customer experience, a stronger organization and management structure in our service business in line with expected growth of the sector."

Himanshu Mody, chief financial officer, Suzlon Group, said, “In Q3 FY24 we have seen consistent improvement in performance across parameters with healthier margins, a net cash position and higher YoY EBIDTA.

“We continued our streak with another profitable quarter reporting a consolidated PAT of Rs. 203 crores. Another highlight of the quarter was securing non-fund based working capital lines from REC which was a critical for a faster ramp-up of our operations and improves utilization of installed capacities.

Suzlon Energy is engaged in the business of design, development, manufacturing and supply of wind turbine generators (WTGs). Suzlon Energy (SEL) is India's largest renewable energy solutions provider with presence in 17 countries across six continents.

The scrip hit 52-week high at Rs 46.01 in today’s intraday session.