Suzlon Energy posts net loss at Rs52.3 cr

Suzlon Energy posts net loss at Rs52.3 cr
PTI
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First Published: Tue, Apr 21 2009. 02 02 PM IST
Updated: Tue, Apr 21 2009. 02 02 PM IST
New Delhi: Leading wind-turbine maker Suzlon Energy on Tuesday said it has posted a net loss of Rs52.3 crore for the nine-month period ending 31 December, 2008, against a net profit of Rs565.28 crore in the year-ago period.
However, the company’s total income nearly doubled to Rs17,499.2 crore from Rs8,924.3 crore during the same period, Suzlon said in a regulatory filing to the Bombay Stock Exchange.
The energy major’s profit before tax declined to Rs272.54 crore in the nine-month period ended 31 December 2008, from Rs689.63 crore in the year-ago period.
Suzlon Energy chairman and managing director Tulsi Tanti had earlier this month said the company would start operations in South Africa and expand in South America, where the company has a presence in Brazil. It is also looking at enhancing its operations in Europe.
The company, through its German arm REpower Systems AG, would supply and erect equipment for power projects in Canada from the next financial year (2010-11).
Suzlon Energy plans to augment the manufacturing capacity of its equipment to support power generation of 5,700 MW by June this year, from the current 4,000 MW.
Shares of the company were trading at Rs 57.35, down 2.13% on the BSE.
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First Published: Tue, Apr 21 2009. 02 02 PM IST