Suzlon Ltd reports 108% jump in profit, recommends 25% dividend
New Delhi, May 15 (UNI) Wind Energy major Suzlon Energy Ltd today reported 42 per cent growth in its net profit at Rs 360 crore for the quarter ended March 31, 2006, as against Rs 254 crore for the same period last year, while recommending a 25 per cent final equity dividend.
The company reported a 108 per cent growth for the year ending 31, March, 2006, at Rs 760 crore as against Rs 365 crore for the same peroid last year.
Due to the impressive performance of the company, the Board of Directors, in the meeting held today, declared a final dividend of 25 per cent at Rs 2.50 per equity share of face value of Rs 10 each for the last fiscal, amounting to Rs 71.88 crore.
''Our strong growth rate can be attributed to the company's order book value, which stands at Rs 720 crore domestically and Rs 2583 crore internationally, making for a combined value of Rs 3,303 crore, till last month,'' Suzlon Energy Ltd (SEL) CMD Tulsi R Tanti told reporters here.
He added, ''We are looking at growing our order book value by 40 per cent this fiscal, which is according to the industry target.'' Mr Tanti said the company is looking at maintaining its top line growth of 25 per cent for the current financial year.
''Our global market share is 6.1 per cent, while the domestic market share is over 50 per cent,'' Mr Tanti said.
The global market for wind energy is presently 40 per cent, while the domestic market is 42 per cent.
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