Suzlon Energy Limited’s consolidated net profit dropped 69.2% in the quarter ended Sept. 30, 2026, even as operating revenue increased 26%, as a large prior-year tax credit amplified the earnings comparison.
Net profit was Rs 394.15 crore, compared with Rs 1,279.44 crore a year earlier. Revenue from operations reached Rs 4,869.05 crore, up from Rs 3,865.54 crore, while profit before tax declined 7.9% to Rs 518.21 crore from Rs 562.50 crore, according to Suzlon’s results.
Tax treatment also differed sharply between the periods. In the latest quarter, the filing lists Rs 118.53 crore of deferred-tax expense and Rs 5.53 crore in current tax. For Q2 FY26, it shows a deferred-tax credit of Rs 718.18 crore alongside Rs 1.24 crore in current tax.
Filing line items imply the EBITDA margin on operating revenue narrowed to 14.8% from 18.6%. The corresponding EBITDA amounts work out to Rs 719.82 crore for the latest quarter and Rs 720.84 crore a year earlier. Suzlon did not list EBITDA or its margin separately; the calculation adds finance costs and depreciation and amortization to profit before tax, then deducts other income.
In the Renewable Energy Solutions segment, revenue rose to Rs 4,211.56 crore from Rs 3,240.56 crore, but segment results fell to Rs 370.54 crore from Rs 478.21 crore. The filing’s line for consumption of raw materials, components and services rendered increased to Rs 3,304.59 crore from Rs 2,428.27 crore.
During the half year, Suzlon renamed its Wind Turbine Generator segment Renewable Energy Solutions. The company said the change did not affect the segment’s composition or previously reported amounts. EconoTimes previously covered the narrower Q1 EBITDA margin in its report on Suzlon’s Q1 results.
The Q2 results are unaudited and subject to a limited review by Suzlon’s statutory auditors.
