INOX India released their January to March quarter results on Monday and posted a strong 44% year-on-year (YoY) jump in their net profit to 44 crore in Q4FY24 from 30.6 crore during the year-ago quarter. The company’s revenue increased 17% year on year from 235 crore to 276 crore during the period under review. 

“With numerous historic milestones crossed, FY24 continues to delight us and our stakeholders. The stupendous response by the investors at the listing has inspired us to reshape the industry and pioneer the adoption of clean energy, with our products & solutions,” Siddharth Jain, Promoter & Non-Executive Director, INOX India said. 

Sequentially, the net profit of INOX India declined 9% from 48.5 crore, while the revenue from operations plunged 4% from 290 crore reported during the quarter ending December 2023. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), which is a metric to calculate an organization’s operational profitability, jumped 38% year on year to 64 crore. 

“The best-ever financial metrics underline our dedication towards shaping a future, which is not only sustainable, but also profitable. Buoyed by the performance of FY’24, we are not only looking to design, engineer and manufacture futuristic solutions, but also looking to add newer markets to our business. I would take this opportunity to thank our stakeholders, partners, customers, and above all, our fantastic team, who have brought the Company to unprecedented heights,” Jain added. 

5 key highlights of the FY24

1. INOX India has reported highest revenues at 1162 crore up by 18% year on year

2. The company has reported highest EBITDA at 282 crore, up by 25% year on year

3. Net profit increases by 27% year on year to 196 crore

4. FY24 delivers export sales at 641 crore

5. Highest order inflow reported at 1193 crore with a highest backlog of Rs1087 crore

 

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Published: 13 May 2024, 11:01 PM IST

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