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Renewable energy solution provider Suzlon Energy posted consolidated net profit of Rs 47.84 crore in the quarter ended June 30, 2017 on the back of higher income.
The company had reported a consolidated net loss of Rs 263.40 crore in the quarter ended June 30, 2016, Suzlon Energy Ltd said in BSE filing today.
According to the statement, total income from operations increased to Rs 2,701.12 crore in the quarter, up from Rs 1,669.66 crore a year ago.
The board also approved the proposal of issuance of non- convertible debentures of up to Rs 900 crore in one or more tranches on private placement basis for replacement of existing debt subject to approval of shareholder in ensuing annual general meeting.
J P Chalasani, Group CEO, said in the statement, "We continue to achieve profitable growth as evidenced by the 4th consecutive quarter of delivering net profit. We are confident this momentum will continue."
Kirti Vagadia, Group CFO, said, "Our continued focus on cost optimization has helped us to secure a healthy bottom line and gives us operating leverage. In order to cope with the temporary uncertainties in the domestic market, we have further strengthened our risk management in order to maintain our margins.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)