Suzlon Energy shares gain 5% on shareholder nod for raising funds

In the quarter ended June 2023, the company had reported net profit of Rs 100.90 crore, while revenue stood at Rs 1,350.98 crore.

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The share price of Suzlon Energy rallied nearly 5 percent on August 9 after the company received shareholders’ approval for raising funds.

In July, the company’s board had approved a proposal to raise up to Rs 2,000 crore from various financial routes.

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In July, the renewable energy solutions provider bagged an order for a 47.6 MW wind power project from KP Group in Gujarat. The project is located at Vagra in Bharuch district and is expected to be commissioned in 2024.

The company has also won an order for the development of a 100.8-MW wind power project for Everrenew Energy Private Limited. It will install 48 wind turbine generators (WTGs) with a Hybrid Lattice Tubular tower at Velliyanani Phase II in Karur district and Vengaimandalam in Trichy in Tamil Nadu and the project is expected to be commissioned in March 2024.

For the quarter ended June 2023, the company reported a net profit of Rs 100.90 crore, while its revenue stood at Rs 1,350.98 crore.