New Delhi: Suzlon Energy shares are expected to be in focus on Thursday, December 26, 2024 after the company was fined by the Enforcement Directorate. The wind energy company informed that the ED ordered it to pay a fine for delay in recovery of selected export income for the shipments completed till the financial year 2016-17 (FY17) of its subsidiary company Suzlon Wind International Limited.
“This is to inform that Office of the Joint Director, Enforcement Directorate, Hyderabad has levied a penalty of Rs 20 lakh upon the Company, in relation to delay in realisation of certain export proceeds for shipments made till FY2017,” Suzlon Energy stated in an exchange filing.
Suzlon said a long-standing issue with the with the Enforcement Directorate was concluded. Su;zon Energy shares on December 24, 2024 closed at Rs 64.82. The multibagger stock has gained 75 per cent in the last one year.
In its second quarter results for the financial year 2024-25 (Q2 FY25) ending on September 30, 2024, Suzlon Group reported that there was a considerable increase in revenues at Rs 2,093 crores. The company posted a 96 per cent increase in net profits to Rs 200.20 crore in the Q2 of the current financial year as against Rs 102.29 crore in the same quarter of the the previous financial year.
Suzlon Q2 2024-25 Results Highlights
Suzlon said it reported a consistent YoY growth in EBITDA at Rs 294 crores.
EBITDA Margin stood at at 14.1 per cent while Net Margin was recorded at 9.6 per cent
The company’s Profit After Tax stood at Rs 201 crores
Order book at all-time high 5.1 GW including India’s largest wind order from NTPC. In September 2024, NTPC Green Energy Limited, the Renewables Arm of India’s largest energy conglomerate NTPC Limited, signed a deal with India’s Largest Wind Energy OEM for the nation’s single largest wind energy order
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Suzlon Energy shares are expected to be in focus on Thursday, December 26, 2024 after the company was fined by the Enforcement Directorate. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
