Inox Wind announces financial results for the fourth quarter of 2020

Inox Wind has announced its financial results for the fourth quarter of the financial year ended March 31, 2020. The company has reported a revenue of Rs 1,967.4 million, which is an increase over the amount of Rs 1,841.4 million recorded for same period of 2019. However, the company’s net loss widened to Rs 1,921.7 million for the quarter ended March 31, 2020 from Rs 535.6 million during the same period in 2019. This was due to high expenditure of up to Rs 4,923.7 million, up from Rs 2,695.3 million for the quarter ended March 31, 2019. The company has beenaffected due to interruption in production activities, supply chain, and availability of manpower to run the operations during the period of lockdown. The company had temporarily suspendedmanufacturing operations at all three of its manufacturing plants located at Ahmedabad, Barwani and Una during the lockdown period.

Earlier in May 2020, Inox Windannounced that its wholly-owned subsidiary, Inox Wind Infrastructure Services, sold its 51 per cent shareholding in Sri Pavan Energy Private Limited . The shareholding comprised of 51,000 equity shares of Rs 10 each.

GET ACCESS TO OUR ARTICLES

Enter your email address