Suzlon Energy In Limelight Touches Fresh 52-Week High

Suzlon Energy Ltd. is in limelight in Monday’s trading session as the company posted good quarterly financial results.

The company’s consolidated revenue for the quarter came in at Rs 4992.6 crore, registering 55.1% Y-o-Y increase. This was primarily driven by 44% Y-o-Y increase in revenues from wind turbine generator business.

EBITDA for the quarter fell by 47.9% Y-o-Y to Rs. 235.6 crore with a corresponding margin contraction of 934 bps. EBITDA margin for the quarter stood at 4.7%. This margin contraction was aided by adverse movements in inventories.

Suzlon has attracted the huge traded volume of 1,71,71,699 shares and traded value of Rs 37.64 Cr in the opening hour on Monday. The stock had gained 3% to close at Rs 20.6 per share on Friday. The stock has gained for the fourth consecutive trading session.

Suzlon has touched its fresh 52-week high of Rs 22.25 per share in the first few minutes of Monday’s trade.

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