Earnings Review
Surge in expenses limits Suzlon Energy's Q3 PAT growth
This story was originally published at 15:58 IST on 5 February 2026
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--Suzlon Energy Oct-Dec consol net profit INR 4.45 bln
--Suzlon Energy Oct-Dec consol PAT INR 4.45 bln vs INR 3.87 bln yr ago
--Suzlon Energy Apr-Dec consol PAT INR 20.49 bln vs INR 8.89 bln yr ago
--Suzlon Energy Oct-Dec consol sales INR 42.36 bln vs INR 29.75 bln yr ago
--Suzlon Energy Apr-Dec consol sales INR 112.39 bln vs INR 71.00 bln yr ago
--Suzlon Energy shares at INR 48.04, down INR 1.73 or 3.5% vs 1.3?rlier
By Prateem Rohanekar
MUMBAI – A rise in total expenses limited the growth in Suzlon Energy Ltd.'s net profit for the December quarter despite a sharp increase in revenue. The company's net profit was much lower than the analysts' estimates, while the net sales were within the range of estimates.
The renewable energy solutions provider posted a net profit of INR 4.45 billion, up over 15% on year, for the December quarter, while the company's net sales were 42.36 billion, up over 42% on year. Analysts saw the company's net profit in the range of INR 5.04 billion to INR 5.58 billion and net sales between INR 39.94 billion and INR 50.09 billion.
The sharp rise in the company's net sales failed to translate into an equivalent rise in the net profit due to a sharp rise in the company's expenses. The company's total expenses were INR 36.92 billion for the December quarter, up over 41% on year.
The cost of materials for the reporting quarter was INR 30.16 billion, up over 74% on year. Cost of materials comprised nearly 82% of the total expenses.
The company's wind turbine generator segment was one of the major contributors to the company's revenues, accounting for nearly 82% of the income from operations. The segment's revenue from operations for the reporting quarter was INR 35.63 billion, up nearly 53%.
Suzlon's net profit for Apr-Dec more than doubled on year to INR 20.49 billion. Net sales for the nine months ended December were INR 112.39 billion, up over 58% on year.
The company had a record order book of 6.4 gigawatts and highest-ever quarter deliveries of 617 megawatts, it said in a press release. As of Dec. 31, the company's net cash was INR 15.56 billion.
The company expects power demand to grow three-fold and renewables to grow ten-fold by 2047. The company is also targeting wind-generated power of 400 gigawatts, at a compound annual growth rate of 10%, by 2047.
On Thursday, shares of the company closed nearly 4% lower at INR 47.85 on the National Stock Exchange. The company reported its quarterly results during market hours. End
Reported by Prateem Rohanekar
Edited by Tanima Banerjee
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