Wednesday, December 28, 2011
Suzlon makes a turnaround in Quarterly profits
Suzlon started its journey with mere 20 supporters in 1995. Being the Market leader in India, Suzlon Market Share worldwide is 8% thereby making it the 5th largest wind turbine manufacturing groups in the world.
Mr. Tulsi R. Tanti, founder- Suzlon Group, said: "We are pleased to report a strong first quarter on all operational parameters with an EBIT margin of 8.1 per cent.”
Mr. Robin Banerjee, Chief Financial Officer, said: "We have reported a profitable first quarter, with a major turnaround from a loss of Rs. 912 crore in Q1 FY11 to a profit of Rs.60 crore in Q1 FY12. We have improved our gross profit levels to 35 per cent despite a very competitive market environment and rising commodity prices.”
This has majorly achieved due to their consistently improving operational efficiency, managing debt profile, and securing orders.
Suzlon energy jumped 3.18% to Rs.37.30 at 10:09 IST on BSE after the company reported a consolidated net profit of Rs.48 crore in Q2 September 2011 compared with a consolidated net loss of Rs.369.23 crore in Q2 September 2010.Suzlon Energy said during Q2 September 2011,it concluded that non-alignment of the revenue recognition policy of Repower to that of Suzlon would result in more appropriate presentation of the financial statements and changed the process of consolidation from quarter ended 31 March 2011.Accordingly,the consolidated financial results for the quarter ended 30 September 2011 are to that extent not comparable. Had the company applied the same policy in the quarter ended 30 September 2010,the revenues and the net loss after tax for the quarter ended 30 September 2010 would have been higher by Rs.156.35 crore and Rs.24.87 crore respectively.
Suzlon’s management is confident that order inflow would be strong in the coming quarters despite a slowdown in the US and Europe, but things may not be that hunky-dory.
Yamini Agarwal | Guest Editor
at 8:15 AM