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On a standalone basis, wind energy major Suzlon Energy has cut its loss significantly and posted net loss after taxes of ₹97.4 crore for the quarter ended June 30, 2015, against a net loss of ₹433 crore for the same quarter of 2014.
Total income increased to ₹1,258 crore from ₹868 crore, signifying a growth of nearly 45 per cent year-on-year.
On a consolidated basis, the group has turned around, posting a net profit after share in minority interest of ₹1,047 crore, against a net loss of ₹751 crore in the previous year period.
Total income stood at ₹2,643 crore (₹4,684 crore).
In a statement, Chairman Tulsi Tanti said: “Our first quarter performance reflects our turnaround journey.”
The group’s consolidated net debt (excluding FCCB) was down to ₹7,010 crore from ₹14,821 crore. It has an order book of 1107 MW valued at ₹6,839 crore.
On January 22, 2015, AE Rotor Holding BV, a step-down wholly owned subsidiary of the company, and its subsidiaries signed a binding agreement with US-based Centerbridge Partners LP to sell a 100 per cent stake in Senvion SE.
Senvion deal The closing was subject to customary dosing conditions, which concluded on April 29, 2015, and therefore, consolidated financial results of Senvion SE and its subsidiaries for April 2015 has been considered for consolidation.
Accordingly, the consolidated financial results for the quarter ended June 30, 2015, are to that extent not comparable with the prior period presented, Suzlon said in a statement to the BSE.
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