Inox Wind shares jump over 8% intraday on strong Q4 results
Inox Wind's shares soared over 8% intraday on Monday after the company reported a 77.5 % rise in consolidated net profit for the final quarter which ended on March 31.
However, at 1:32 pm, the company's shares were down from the day's high but still above the red line. Inox Wind's shares were trading at Rs 249.85, up 8.05 or 3.33% from the previous day's close.
Boosted by the encouraging numbers, the stock rallied 8.25 % to Rs 261.75 on Bombay Stock Exchange (BSE). At National Stock Exchange (NSE), it surged 8.19 % to Rs 261.35.Inox Wind is a fully integrated player in the wind energy market with state-of-the-art manufacturing plants near Ahmedabad (Gujarat) for blades & tubular towers and at Una (Himachal Pradesh) for hubs & nacelles. The company had posted a net profit of Rs 117.8 crore in the previous year, it had said in a BSE filing.
Inox Wind on Friday reported a 77.5 % rise in consolidated net profit to Rs 209.2 crore for the quarter ended March 31, 2016.
Consolidated income from operations during January-March increased to Rs 1,828.65 crore over Rs 930.05 crore in the year-ago period. The company achieved highest-ever annual installations by commissioning projects with a cumulative capacity of 786 mw during FY16.