Suzlon’s Dec quarter profit at Rs 110 crore

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Pune | Published: January 30, 2016 12:47:53 AM

Suzlon Energy has reported a stand-alone profit of Rs 110 crore on a total income of Rs 1,328 crore during Q3FY16.

Suzlon Energy has reported a stand-alone profit of Rs 110 crore on a total income of Rs 1,328 crore during Q3FY16.

Suzlon’s consolidated results reported a net loss of Rs 113.17 crore on a turnover of Rs 1,891 crore during the quarter.

“The loss is largely because of forex impact which is a notional loss. However we are not burning cash anymore. If not for this notional forex loss we have broken even and we are generating cash, ” Kirti Vagadia, CFO, Suzlon,said.

Suzlon’s Q3FY16 saw EBITDA margin improving to 17.8% to Rs 336 crore while EBIT margins rose to 12.6% at Rs 237 crore. The company has narrowed down its consolidated losses.

During the same period in previous year Suzlon had suffered a loss of Rs 6,538.68 crore loss on a turnover of R 4,977.18 crore.  As the company sold its Senvion subsidiary in January 2015 and concluded the deal in April 2015, the consolidated financial results for the quarter are to that extent not comparable.

Suzlon’s order book as on December 31, 2015 stood at 897 MW valued at Rs 5,5527 crore. The current order backlog was at 1,195 MW. The company’s net debt stood at Rs 8, 751 crore as on December 31, 2015.

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