Thursday, Feb 22 2024 | Time 19:19 Hrs(IST)
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Business Economy


Suzlon Energy posts Rs 56 crore net profit in Q2

New Delhi, Nov 10 (UNI) Renewable energy firm Suzlon Energy on Thursday posted a consolidated net profit of Rs 56.47 crore for the second quarter ending September, 2022.
The company had registered a net loss of Rs 12.40 crore in the corresponding quarter of the previous financial year.
The company's revenue from operation in July-September quarter of FY23 stood at Rs 1,430.38 crore, 6.2% higher compared to Rs 1,346.51 crore in the same quarter a year ago.
Commenting on the quarterly result, Girish Tanti, Vice Chairman, Suzlon Group, said that India has recorded an installation of 164.9 GW of renewable energy as on 30th September 2022, reflecting a healthy recovery of the sector despite the disruptions of the pandemic and the disastrous impact of the global geo-political situations on the supply chain and commodity prices.
"The environment of positive policy initiatives continues, and we believe that given the commitment and will of the Indian government, the country could very well achieve 500GW of renewable energy installations by 2030.
As industry leaders we are fully equipped to leverage the tailwinds of the sector from a position of strength as demonstrated by our successful rights issue, consistently improving performance, a strong order book and our relentless debt reduction endeavours." he further said.
Ashwani Kumar, Chief Executive Officer, Suzlon Group, termed the quarterly numbers as very satisfying considering various challenges.
"While we continue to show improvement in our performance, the highlight for us has been the order intake in recent months," he said.
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