Suzlon reports Q3 loss of Rs32.68 crore on weak operational performance
Suzlon Energy reports a consolidated net loss of Rs32.68 crore in the third quarter ended 31 Dec as against Rs282.54 crore net profit in the same quarter of the previous year
New Delhi: Suzlon Energy on Friday reported a consolidated net loss of Rs32.68 crore in the quarter ended 31 December, mainly due to lower income.
The company’s consolidated net profit was Rs282.54 crore in the quarter ended on 31 December 2016, Suzlon Energy said in a BSE filing. According to the statement, its total income from operations in the quarter was Rs2,237.37 crore compared to Rs3,341.48 crore a year ago.
During April-December period this fiscal, its consolidated net profit was down at Rs85.84 crore from Rs262.89 crore in same period last fiscal.
The company’s total income from operation was also down at Rs6,153.30 crore in the nine month period from Rs7,779.35 crore in the year-ago period. Its order backlog stands at 677 MW backed by PPAs (power purchase agreements). It has the consolidated customer advance of Rs1,505 crores.
J.P. Chalasani, Group CEO, Suzlon,said, “The domestic wind market is on the path to grow significantly in the competitive bidding regime and increased demand for clean energy, which has now become a reliable and mainstream source of energy. We are confident that the industry will regain the momentum as there is clear business visibility of 7.5 GW even before the start of the next financial year”.
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