Suzlon Energy posts Rs 56 crore profit in September quarter

Suzlon Energy on Thursday posted a consolidated net profit of Rs 56.47 crore in the September quarter, mainly due to higher revenues.

In the year-ago period, the company had a net loss of Rs 12.40 crore, according to a BSE filing.

The company's total income rose to Rs 1,442.58 crore in the second quarter of the current fiscal from Rs 1,361.62 crore in the same period a year ago.

In a statement, Girish Tanti, Vice Chairman of Suzlon Group, said, "as industry leaders, we are fully equipped to leverage the tailwinds of the sector from a position of strength as demonstrated by our successful rights issue, consistently improving performance, a strong order book and our relentless debt reduction endeavours."

Ashwani Kumar, Chief Executive Officer of Suzlon Group, said, it has closed a very satisfying second quarter despite various challenges.

"While we continue to show improvement in our performance, the highlight for us has been the order intake in recent months. The confidence that our customers have reposed in us has always been our driving force… While our order-book stood at 759 MW as on 30th September 2022, we have subsequently added new orders of nearly 193 MW," he added.

Himanshu Mody, Chief Financial Officer of Suzlon Group, said it has reduced debt by Rs 583.50 crore through the rights issue proceeds.

At the end of September, the net debt was Rs 2,722 crore.