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Business News/ Companies / Company Results/  Suzlon Energy Q4 Results: Net profit down 21% to 254 crore over exceptional items
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Suzlon Energy Q4 Results: Net profit down 21% to ₹254 crore over exceptional items

Suzlon Energy reported a nearly 21% decline in consolidated net profit to ₹254 crore in the March quarter against ₹1,699.96 crore in the same period a year ago, mainly due to certain exceptional items

Suzlon Energy Q4 results: Total income rose to ₹2,207.43 crore in the quarter from ₹1,699.96 crore in the same period a year agoPremium
Suzlon Energy Q4 results: Total income rose to 2,207.43 crore in the quarter from 1,699.96 crore in the same period a year ago

Renewable energy solutions provider Suzlon Energy on Friday reported a nearly 21% decline in consolidated net profit to 254 crore in the March quarter, mainly due to certain exceptional items.

The company reported a consolidated net profit of 320 crore in the year-ago period, a BSE filing said.

Total income rose to 2,207.43 crore in the quarter from 1,699.96 crore in the same period a year ago.

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The consolidated net profit in the 2023-24 fiscal year also declined to 660 crore from 2,887 crore a year earlier.

Total income in the fiscal rose to 6,567.51 crore from 5,990.16 crore a year ago.

The company explained that PAT (profit after tax or net profit before exceptional items) for the March quarter increased 411 per cent to 281 crore on a year-on-year basis.

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The cumulative orders as on May 24, 2024 are 3.3 GW. This includes the order book as on March 31, 2024 of 2,929 MW, plus orders secured subsequently of 402 MW.

"We have been able to create a solid foundation over the last FY across all business verticals of technology, manufacturing, projects, and OMS," Suzlon Group Vice Chairman Girish Tanti said in the statement.

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This positions the company strongly to lead the sector in years to come, he said, adding, "We stacked up our largest ever order book of value-driven orders for more than 3.3 GW."

The board also approved forfeiture of 81,94,063 partly paid-up equity shares of the company worth 2 each issued on rights basis as the first and final call money of 2.50 per share has not been paid.

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Published: 24 May 2024, 04:28 PM IST
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