Suzlon Energy goes with the wind
Suzlon Energy’s revenue increased by 24 per cent to Rs 3,307 crore in Q3FY17 as compared to the same period in previous financial year. The company’s EBITDA boosted by 124 per cent to Rs 745 crore in Q3FY17 on yearly basis. It posted net profit of Rs 304 crore in Q3FY17 against net loss of Rs 46 crore in Q3FY16.
Suzlon Energy’s net debt stood at Rs 6,538 crore in Q3FY17. The company’s working capital debt was at Rs 3,167 crore in Q3FY17. Its new order intake was at 557 MW in Q3FY17 on yearly basis. Meanwhile, Suzlon Energy’s order book stood at 1,231 MW valued at Rs 7,523 crore. In Q3FY17, Suzlon Energy implemented new rotor blade plants commissioned in Rajasthan and Andhra Pradesh. The company has achieved 10,000 MW in India.
Suzlon Energy’s management is confident on growing the domestic market in size, on the backdrop of state feed in tariff (FIT) programs, inter-state transmission system (ISTS) with non-windy states and also, the demand to meet the renewable purchase obligations (RPO). The competitive bidding process held recently, aims to drive volume growth in the industry.
The share price of Suzlon Energy increased 11.05 per cent on bourses in early trade and is trading at Rs 18.45 in an intraday basis.