Inox Wind announces financial results for the fourth quarter of 2020

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

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