Suzlon shares jump nearly 12% buoyed by Q1 profit

Shares of wind turbine maker Suzlon Energy settled the day with nearly 12 per cent gains, adding Rs 1,230.98 crore to its market valuation, as the company posted consolidated net profit of Rs 1,047.41 crore for the quarter ended June 30.

After surging 18.26 per cent to Rs 25.90 in intra-day session, the stock finally closed at Rs 24.45, up 11.64 per cent, on the BSE.

On the NSE, it settled 11.41 per cent higher at Rs 24.40.

As a result, the company's market valuation jumped Rs 1,230.98 crore to Rs 11,798.98 crore.

Suzlon Energy showed a smart turnaround in the first quarter of the current fiscal. It had reported net loss of Rs 750.74 crore in the same quarter of last fiscal 2014-15.

The company's total income stood at Rs 2,627.71 crore in the reporting quarter, compared with Rs 4,671.99 crore in the year-ago period.

The company said its consolidated net debt (excluding foreign currency convertible bonds) was down at Rs 7,010 crore, from Rs 14,821 crore as of March 31, 2015.