Mumbai, May 20: Suzlon Energy has registered a net profit of Rs 464.82 crore for the quarter ended March 31, 2008, as against Rs 359 crore in the corresponding quarter of the previous fiscal.
The board of directors have recommended a dividend of 50 per cent for the financial year 2007-08, a Company press release here said. Total Income grew from Rs 2915.94 crore to Rs 4923.75 crore during the same period. Durng the financial year ended March 31, 2008, the Company recorded a net profit 1030.10 crore compared to last fiscal's Rs 864.03 crore. The total sales rose from 7985.73 crore to 13679.43 crore.
Commenting on the results, Suzlon Energy CMD Tulsi R Tanti said in the release, ''Suzlon has grown at over 71 per cent compared to an industry average of 24 per cent. Our global market share in the year 2007-08 grew to 10.5 per cent from 7.7 per cent in 2006-07.'' The Company has plans to establish new manufacturing facilities in India to act as a hub for global markets. Work to establish 3,000 MW in new capacity is in an advanced state of progress, with production scheduled to begin in July 2009 and to reach full utilisation levels by fourth quarter 2009 -- more than doubling Suzlon's manufacturing capacity from 2,700 MW to 5,700 MW, the release said.
The Company's project to establish forging facilities of 70,000 MT capacity and foundry facilities of 120,000 MT capacity are also scheduled to commence production in third quarter 2009.
Mr Tanti said the Company had a strong order book (excluding Hansen and Repower) position of Rs 18,308.59 crore (3454.25 MW), with Rs 886.49 crore (160.10 MW) in domestic orders and Rs 17422.10 crore (3294.15 MW) in international orders as on May 19, 2008.
Suzlon subsidiary Hansen Transmissions raised Euro 440 million through an IPO and achieved success listing on the London Stock Exchange. Capacity expansion plans are on the track with capacity in Belgium raised from 3600 MW to 7,300 MW and 5,000 MW and 3,000 MW of new capacity in India and China respectively scheduled to come on stream in October 2008. By 2012, total capacity worldwide will reach 14,330 MW, the release said.