Suzlon Energy reports Rs89 crore net profit in Q1 2007-08

26 July 2007

Total income for the quarter was also lower at Rs862.90 crore against Rs946.70 crore for the corresponding quarter of the previous year, Suzlon Energy said in a filing with the Bombay Stock Exchange (BSE).

Suzlon has started commissioning and installing wind turbine generators (WTGs) through a subsidiary company effective April 1, 2007, which was earlier done through an associate company.

The company had also transferred certain related assets of the promoter company pertaining to this business to the subsidiary. The figures for the quarter ended June 30, 2007 are therefore not comparable with the prior period, Suzlon Energy said.

Suzlon said it has an order book position of Rs13,496.83 crore comprising of Rs1,711.21 crore of domestic orders and Rs11,785.62 crore of export orders as on date.

The group recorded a net profit after minority interest of Rs18.89 crore for the quarter ended June 30, 2007 as against Rs95.27 crore for the same quarter of the previous year. Total income was Rs1987.27 crore for the quarter against Rs1085.04 crore a year ago.

Meanwhile, the company through its wholly owned subsidiary, the Netherlands-based AE-Rotor Holding B V, acquired Belgium-based EVE Holding NV for Rs2,502.64 crore in May this year.