Suzlon Group has posted a net loss after minority interest of Rs 286 crore for the quarter ended December 31, 2011 where as the same was at net loss of Rs 254 crore for the quarter ended December 31, 2010.
The wind energy major has posted a total Income of Rs 5,063 crore for the quarter ended December 31, 2011 where as the same was at Rs 4,528 crore for the quarter ended December 31, 2010.
During the last quarter of FY11, the Company concluded that non-alignment of the revenue recognition policy of REpower to that of Suzlon would result in more appropriate presentation of the financial statements and changed the process of consolidation from quarter ended March 31, 2011. Accordingly, the consolidated financial results for the quarter and nine months ended December 31, 2011 are to that extent not comparable.
Had the Company applied the same policy in the quarter ended December 31, 2010, the revenues and net loss after tax for the quarter ended December 31, 2010 would have been lower by Rs 30 crore and Rs 21 crore.
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