New Delhi: Renewable energy solutions provider Suzlon Energy, India’s largest renewable energy solutions provider, announced its fourth quarter (Q4 FY24) and annual audited results for financial year 2023-24 (FY24). Market expert, Arun Mantri, the founder of Mantri Mart, stated that the counter has been one of the stocks which have been in limelight amid the strong momentum from the single digit to 40 plus mark.
The expert further stated at the current juncture, the counter is looking strong on the technical front, the support for the stock is around 43 followed by 41 while resistance is around 50-52 for the short-term perspective. The overall chart is looking strong on all the major time frames and dips below 40-42 may be a good short term accumulation levels with Stop Loss placed below 37 level.
Following the announcement of Q4 Results on, Suzlon shares closed on a lower note and the stock closed at Rs 45.90 a piece on NSE on May 24, 2204. On BSE, the scrip ended at Rs 45.89.
Suzlon Energy declared results for the March quarter of 2023-24. In its financial results, the energy company reported nearly 21 per cent dip in consolidated net profit to Rs 254 crore. In its regulatory filing the company informed that it recorded a consolidated net profit of Rs 320 crore in the year-ago period.
Suzlon Q4 Results Highlights
Total income increased to Rs 2,207.43 crore in the last quarter of 2023-24. It was Rs 1,699.96 crore in 2022-23. In the 2023-24 fiscal year, the company reported that its consolidated net profit slumped to Rs 660 crore as compared to Rs 2,887 in 2022-23.
The company in its release stated that it reciorded highest consolidated EBITDA and PAT before exceptional items in 7 years.
The company informed that it has the largest ever order book of 3.3 GW.
Revenue of Rs 6,497 crore in FY24; it was Rs 2,179 crore in Q4 FY24.
EBITDA of Rs 1,029 crores in FY24 as compared to Rs 357 crores in Q4 FY24.
PAT before exceptional items for FY24 increased to 428 per cent to Rs 714 crores on YoY basis.
PAT before exceptional items for Q4 FY24 increased to 411 per cent Rs Rs 281 crore on YoY basis.
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Suzlon share price news: Market expert Arun Mantri suggested buying and holding the Suzlon stock. Suzlon Q4 Results 2024 showed that the company’s consolidated net profit declined nearly 21 per cent. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
