Sterling -; Wilson posts 14% yoy growth in revenue for Q3FY22

16 Feb 2022 , 09:51 AM

Sterling & Wilson Renewable Energy Ltd. announced its results for the quarter and nine months ended December 2021 and has reported steady growth in revenue, while losses widened for the period.

The company’s revenue increased by 13.95% yoy at Rs1,495 crore for Q3FY22 against Rs1,312 crore for Q3FY21. While revenue for the 9M ended December 2021 logged 11% yoy growth at Rs4,128 crore for the previous 9M period.

Its EBITDA turns out to be negative Rs385 crore for the current quarter against Rs17 crore for the previous corresponding quarter. EBITDA margin for the current quarter stood negative at 25.80% against 1.3% in Q3FY21.

EBITDA for the 9M ended December 2021 settled negative at Rs759 crore or Rs(759) crore, and Rs43 crore for the corresponding 9M period.

PAT turned out negative at Rs427 crore for Q3FY22 as compared to profit of Rs22 crore in Q3FY21. Loss for the 9M ended December 2021 stood at Rs789 crore against profit of Rs54 crore for the previous 9M period. PAT margin also remained negative at 28.6% against a positive margin of 1.7% in previous corresponding quarter.

Gross margins are impacted due to continued increase in prices of modules, commodities, freight and related execution costs along with liquidated damages settled.

Sterling & Wilson was last trading at Rs363.65, up by 40 paise or 0.11% against its previous closing price of Rs363.25 on NSE. So far, it touched day’s high and low of Rs366.45 and Rs360.10 respectively.