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Latest News:

Suzlon continues to deliver profitable growth

By
suzlon, Fund raising, Shareholders approval

Key Highlights:

  • ·         Q1 FY18 volumes of 412 MW, grew by 102% Y-o-Y
  • ·         Revenue of Rs 2,665 crores in Q1, up 62% on Y-o-Y basis
  • ·         EBITDA at  Rs. 475 crores; registering a growth of 168 % Y-o-Y
  • ·         Net profit of Rs 90 crores; from loss of Rs 206 crores in Q1 FY17
  • ·         Order book at Rs 7,757 crores 
  • ·         New generation wind turbine, S111-140m (tallest wind turbine in India) commissioned

 

J P Chalasani, Group CEO, said, “We continue to achieve profitable growth as evidenced by the 4th consecutive quarter of delivering net profit. We are confident this momentum will continue. The transition from FiT to competitive bidding has created temporary volatility in terms of volume and margins.  In the long-term, all stakeholders will benefit from higher volumes. We have commissioned our next generation turbine, the S111-140 meters which will establish new performance benchmarks. Our presence across the value chain, end-to-end solutions and best-in-class services gives us a competitive edge. The future of wind energy is brighter than yesterday. Wind as a source of energy will remain cost competitive, affordable and reliable.”

 

 

Kirti Vagadia, Group CFO, said, “We remain focused on a profitability and sustainable volume growth. Delivering 412 MW in Q1, which is seasonally a low volume quarter, is a testament of the same. Our continued focus on cost optimization has helped us to secure a healthy bottom line and gives us operating leverage. We continue to maintain disciplined working capital level. In order to cope with the temporary uncertainties in the domestic market we have further strengthened our risk management in order to maintain our margins.”

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