 "Suzlon wind farm")
India’s leading wind energy solution firm Suzlon Energy reported a turnaround in its consolidated bottomline.
Consolidated net profit during Q2 FY17 was at Rs 238 crore, against loss of Rs 202 crore in Q2 FY16. Consolidated revenue for the quarter increased to Rs 2,746 crore, a year-on-year growth of 57 per cent.
Standalone losses of Suzlon Energy tanked 273 per cent to Rs 362 crore during Q2 FY17 from Rs 97.38 crore, during the corresponding period a year earlier.
Standalone revenue was up 2.5 per cent to Rs 1,143 crore.
“Recent policy impetus such as revised Renewable Purchase Obligations (RPO) trajectory, approval on repowering policy and 1 GW under Inter-state Transmission Scheme across various states will further bolster incremental demand for renewable energy in India. We are confident of maintaining this momentum and building on our strengths,” said J P Chalasani, group chief executive, Suzlon.
