Suzlon Q2 net profit at Rs238 crore
- Wearable technology is a big opportunity, says Timex CEO Tobias Reiss-Schmidt
- Hewlett Packard Enterprise said to plan about 5,000 job cuts
- Sushma Swaraj raises terrorism, H1-B visa issues with Rex Tillerson
- Clear exporters’ pending claims, GST panel tells government
- Govt seeks asset valuer for Air India stake sale
New Delhi: Wind turbine maker Suzlon Energy Ltd on Friday reported a consolidated net profit of Rs238 crore for the September quarter, compared with a loss of Rs202 crore a year earlier, boosted by better sales.
Suzlon informed the stock exchanges that its income from operations for the second quarter rose 57% to Rs2,752 crore from Rs1,749 a year ago.
Group chief executive J.P. Chalasani said the company had achieved sustainable turnaround and profitable growth.
“Our performance is boosted by rapid technological advancements and a conducive policy environment. Recent policy impetus such as revised renewable purchase obligations (RPO) trajectory, approval on re-powering policy and one giga watt (GW) under Inter-state transmission scheme (ISTS) across various states will further bolster incremental demand for renewable energy in India,” Chalasani said in a statement.
Suzlon reported earnings before interest, taxes, depreciation and amortization (EBITDA) of Rs586 crore for the second quarter. It also reported an order book of 1,136 mega watts of new projects valued at Rs7,165 crore.