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India

India

Suzlon announces 8.1% profit for Q1

INDIA: The Suzlon Group has recorded a profit of $79 million for the three months to 30 June 2011, up from a loss of $152 million in the same period last year.

This 8.1% profit margin was recorded on revenues of $980 million, up 80% on revenues of $544 million in the same quarter last year.

Turbine orders totalled 580MW for the quarter and the group's order book, including subsidiary Repower, stood at 4,739MW as of 29 July 2011.

Over 91MW of Repower's offshore turbines were installed in the first quarter, taking its current installed offshore base to over 171MW.

Suzlon owns over 95% of Repower and is in the process of acquiring the remaining few shares outside of its control. In today's quarterly results it announced that it planned to table a resolution to this process at Repower's AGM on 21 September.

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