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Stock Report
Suzlon Energy Q1 net profit down to Rs.89.4 Crores
Posted On : 2007-07-25 22:34:32( TIMEZONE : IST )
Suzlon Energy Ltd has announced the following Unaudited Results for the quarter ended June 30, 2007.
The Company has posted a net profit of Rs 894.00 million for the quarter ended June 30, 2007 where as the same was at Rs 1936.00 million for the quarter ended June 30, 2006. Total Income is Rs 8629.00 million for the quarter ended June 30, 2007 where as the same was at Rs 9467.00 million for the quarter ended June 30, 2006.
Effective April 01, 2007. the Company has commenced commissioning and installation of WTGs through a subsidiary Company, which earlier was done in an associate Company. Certain related assets of the promoter Company pertaining to this business have been transferred to the subsidiary. To that extent, the figures for the quarter ended June 30, 2007 are not comparable with prior periods presented.
The Consolidated Results are as follows: The Group has posted a net profit after minority interest of Rs 188.90 million for the quarter ended June 30, 2007 where as the same was at Rs 952.70 million for the quarter ended June 30, 2006. Total Income is Rs 19872.70 million for the quarter ended June 30, 2007 where as the same was at Rs 10850.40 million for the quarter ended June 30, 2006.
The Company through its wholly owned subsidiary, AE-Rotor Holding B.V., The Netherlands ("AE-Rotor") has on May 09, 2006, purchased 100% of the share capital of Eve Holding NV, Belgium ('Eve Holding') for a consideration of Rs 2502.64 crore. By virtue of the acquisition of Eve Holding by AE-Rotor, the Company has 100% ownership of Hansen Transmissions International NV, Belgium along with its subsidiaries, which are engaged in the business of design, development, manufacturing and supply of industrial and wind gear boxes and is the second largest wind energy gearbox manufacturer in the world. The consolidated financial figures for the quarter ended June 30, 2006 and year ended March 31, 2007 inter alia include the financial figures of Eve Holding from May 09, 2006. Accordingly, the consolidated financial results for the quarter ended June 30, 2007 are to that extent not comparable with the consolidated financial figures of the prior periods presented.
As on date, the company has an order book position of Rs 13,496.83 Crores comprising of Rs 1,711.21 Crores of domestic orders and Rs 11,785.62 Crores of Export Orders.
The stock was trading at Rs.1323, down by Rs.78.90 or 5.63%. The stock hit an intraday high of Rs.1379 and low of Rs.1303. The total traded quantity was 187108 compared to 2 week average of 161666.
