Suzlon Energy posts net profit of Rs 431.5 cr

Suzlon Energy on Saturday posted a net profit of Rs 431.5 crore for the fourth quarter, compared with a loss of Rs 188 crore in the same quarter last year. The company’s revenues went up by 19.6 per cent to Rs 7,276 crore as compared to Rs 6,083 crore in the corresponding quarter last year.

For the year ended March 31, the wind turbine maker has secured highest orders ever secured — an order intake of 4,000 megawatts, while it is total orderbook stood at 4,639 Mw and was valued at Rs 30,100 crore.

‘Initiatives like lowering operating costs, rationalising inventories and improving overall operating efficiency have delivered positive results. We have brought down our net debt-to-equity ratio to 1.36, and maintained a tight focus on cashflow and driving orders,” said Robin Banerjee, chief financial officer, Suzlon Energy.

The company also forecasted that its revenues for the year 2011-12 will be in the range of Rs 24,000-26,000 crore. “We have made substantial  progress on many strategic initiatives, including successfully launching the S9X and 3XM turbines suites, and initiating the ‘squeeze-out’ of REpower’s minority shareholders – both of which will play an important role in further strengthening our position,’ said Tulsi R Tanti, chairman and managing director of Suzlon group.