Suzlon Energy reports a modest Rs1.2 crore net profit in Q3 FY11

Suzlon Energy has posted a net profit of Rs1.2 crore for the quarter ended 31 December 2010 against a net loss of Rs285.14 crore in the quarter ended 31 December 2009.

Total income of the wind power major stood at Rs1292.24 crore during the quarter ended 31 December 2010 against Rs810.50 crore during the quarter ended 31 December 2009.

The Suzlon Group has reported a net loss after share of associates and minority interest of Rs253.57 crore during the quarter ended 31 December 2010 against a net profit of Rs14.10 crore during the quarter ended 31 December 2009, unaudited results showed.

Total income during the October-December 2010 quarter stood at Rs4528.25 crore against Rs5625.90 crore during the previous year quarter.

During the quarter, Suzlon reduced its stake in Hansen Transmissions International NV and the company ceased to be a subsidiary of the company with effect from 24 November 2009. Suzlon held 26.06 per cent stake in Hansen as of end-December 2010.

Consolidated financial figures for year ended 31 March 2010 inter alia include the financial figures of Hansen till November 2009 as subsidiary and subsequently as an associate. Accordingly, the consolidated financial results for the quarter and nine months ended 31 December 2010 are to that extent not comparable with the consolidated financial results of the prior periods presented, Suzlon said in a release