Suzlon Energy rose 5.77% to Rs 15.40 at 15:00 IST on BSE after the company reported turnaround Q2 September 2016 results.
The result was announced after market hours on Friday, 11 November 2016.Meanwhile, the BSE Sensex was down 431.48 points, or 1.61%, to 26,387.34.
On BSE, so far 1.57 crore shares were traded in the counter, compared with average daily volume of 40.24 lakh shares in the past one quarter. The stock hit a high of Rs 16.15 and a low of Rs 15.04 so far during the day. The stock hit a 52-week high of Rs 23.25 on 5 January 2016. The stock hit a 52-week low of Rs 12.47 on 9 November 2016. The stock had outperformed the market over the past 30 days till 11 November 2016, falling 1.09% compared with the 2.98% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 12.02% as against Sensex's 4.74% decline.
The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.
On a consolidated basis, Suzlon Energy reported net profit of Rs 237.62 crore in Q2 September 2016 as against net loss of Rs 201.66 crore in Q2 September 2015. Net sales rose 57.30% to Rs 2746.18 crore in Q2 September 2016 over Q2 September 2015.
Consolidated net term debt (excluding foreign currency convertible bonds) was reported at Rs 6646 crore in Q2 September 2016, further reducing by Rs 230 crore over Q1 June 2016. The company said its order book stood at 1,136 megawatts (MW). The order book is valued at Rs 7165 crore.
In a separate announcement during trading hours today, 15 November 2016, the company said that credit ratings agency, CARE, has upgraded the investment grade credit rating of SE Forge, its wholly-owned subsidiary, to BBB from the earlier BBB-. The rating has been assigned to SE Forge's outstanding banks facilities as well as for the proposed working capital enhancements.
Suzlon Energy is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.
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