Suzlon Energy Share Price: reported a nearly 21% fall in overall net profit to ₹254 crore in the March quarter compared to ₹1,699.96 crore in the same period a year ago, primarily due to extraordinary events.
Suzlon Energy, a renewable energy solutions provider, reported a nearly 21% fall in consolidated net profit to ₹254 crore in the March quarter, primarily owing to unusual events.
In the previous year, the company’s consolidated net profit was ₹320 crore, according to a BSE filing.
The total income increased to ₹2,207.43 crore in the quarter, up from ₹1,699.96 crore the previous year.
The consolidated net profit in the 2023-24 fiscal year also declined to ₹660 crore from ₹2,887 crore a year earlier.
Total income in the fiscal rose to ₹6,567.51 crore from ₹5,990.16 crore a year ago.
The company explained that PAT (profit after tax or net profit before exceptional items) for the March quarter increased 411 per cent to ₹281 crore on a year-on-year basis.
The cumulative orders as on May 24, 2024 are 3.3 GW. This includes the order book as on March 31, 2024 of 2,929 MW, plus orders secured subsequently of 402 MW.
“We have been able to create a solid foundation over the last FY across all business verticals of technology, manufacturing, projects, and OMS,” Suzlon Group Vice Chairman Girish Tanti said in the statement.
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This puts the company in a great position to lead the industry in the coming years, he said, adding, “We stacked up our largest ever order book of value-driven orders for more than 3.3GW.”
The board recommended forfeiture of 81,94,063 partially paid-up equity shares of the firm worth ₹2 each issued on rights basis, as the first and final call money of ₹2.50 per share was not paid.
