Sterling and Wilson up 12%

Sterling and Wilson Renewables is currently the top gainer on the BSE; from its close of yesterday at Rs.288.15, it opened today at Rs.290.95, over 1% higher and rose to an intraday high at Rs.322.40, up 12%.

The market has given a big thumbs up to its performance; it reported a lower loss of Rs.95 crore for Q1FY24 v/s loss of Rs.356 crore (YoY) though its revenue slipped from Rs.1206 crore to Rs.515 crore.

In an investors call, the company said that turn around in its core operations and improvement in domestic EPC margins helped scale down the losses.

The order book at end of Q1FY24 was at Rs.4902 crore and it expects to get orders to the tune of 4-5 GW from India within this fiscal.

In Q1, it got orders worth Rs.466 crore, which also included a 1500 MW contract with NTPC.

The company expects to become profitable in FY24.