INOX India net profit grows by 10% to Rs 50 crore in Q2

New Delhi: INOX India on Friday reported a 10 percent rise in consolidated profit after tax to Rs 50.1 crore in the September 2024 quarter, helped by higher revenue.

The company posted a Rs 45.5 crore Profit After Tax (PAT) in the quarter that ended September 2023, the company said in a statement.

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Its total revenue rose to Rs 320 crore against Rs 264.6 crore in the second quarter last fiscal.

"Our success is driven by a strong influx of orders and our proven execution capabilities, reflecting the strength of our strategies and our commitment to delivering impactful results," Deepak Acharya, Chief Executive Officer - INOX India Ltd, said.

On Thursday, the company announced securing an order to supply five specialised cryogenic tanks to UK-based Highview Power for Liquid Air Energy Storage (LAES) project coming up at Manchester in the UK.

INOX India is one of the world's leading providers of customised cryogenic solutions for sectors like energy, steel, medical and healthcare, chemicals and fertilisers, aviation and aerospace, pharmaceuticals and construction.

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