Suzlon Energy reports six-fold profit rise in Q2
pre-market1 source ↓written by the desknot a recommendation
- from ₹59
- 30% upside potential
- 83%
- Interest expenses
- 15% lower than expected
Suzlon Energy Ltd. reported a six-fold rise in profit for Q2, driven by revenue growth of 84% and EBITDA margin of 18.6%. Morgan Stanley raised its earnings forecasts, maintaining an overweight rating with a target price of ₹77, indicating a 30% upside potential from ₹59. Monitoring of tax rates and working capital is advised.
• Adjusted profit up 180% year-on-year
• Exceeded Morgan Stanley's estimates by up to 83%
• Interest expenses were 15% lower than expected
Immediate market sentiment may improve following these results.
Not investment advice. For informational purposes only.