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Suzlon Energy registers Rs453 crore Q1 net loss news
01 August 2009

Suzlon, the world's third largest wind turbine supplier group, today reported a net loss of Rs453 crore for fiscal first quarter (April-June 2009-10) against a Rs9 crore profit in the same quarter of the previous fiscal.

Consolidated revenue stood at Rs4,153 crore for the first quarter of FY2009-10, against Rs3,118 crore for Q1FY09. Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs12 crore against Rs539 crore in the previous year quarter. The company registered an after-tax loss of Rs453 crore.

The company said it successfully undertook strategic fund raising of $202 million - of $108 million through Global Depository Receipts (GDRs) and $94 million through an issue of zero coupon convertible bonds.

Suzlon said its blade retrofit programme to strengthen all V2 blades is 90 per cent complete and work is underway. The programme is scheduled for completion in August 2009, with no further provisioning needed, Suzlon said in a release.

Suzlon order book (excluding Hansen and REpower) stood at 1,501 MW, worth Rs8.316 crore as of 30 July 2009, with 66 MW (Rs380 crore) in domestic orders and 1,435 MW (Rs7,936 crore) in international orders.

REpower reported a confirmed order book of 1,231 MW as of 30 June 2009, with a contractually confirmed order volume of 1.45 billion euros and more than 5 billion euros in framework agreements and firm contracts, the release said.

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Suzlon Energy registers Rs453 crore Q1 net loss