Suzlon Energy Q2 net rises 6.08 pc to Rs 253 cr

Mumbai, Oct 27 (UNI) Suzlon Energy has posted a net profit of Rs 253.49 crore for the quarter ended September 30, 2006 as compared to Rs 238.95 crore for the quarter ended September 30, 2005, an increase of 6.08 per cent.

Announcing the results, the company said its total income is Rs 1298.15 crore for the quarter ended September 30, 2006 whereas the same was at Rs 1099.28 crore for the quarter ended September 30, 2005.

The company, as part of its long-term plans of having independent manufacturing units for various components of a Wind Turbine Generator (WTG), has realigned its operations and has commenced sale of tubular towers through one of its wholly owned subsidiary.

Accordingly, the standalone results for the quarter ended September 30, 2006 do not include the sale of tubular towers aggregating approximately Rs 118.81 crore and Rs 212.51 crore respectively which have been sold through the wholly owned subsidiary.

The sales realization and gross margins for standalone results during the quarter ended September 30, 2006 are to that extent not comparable with the standalone results of prior periods presented.

As per the consolidated results, the Group has posted a net profit after minority interest of Rs 235.37 crore for the quarter ended September 30, 2006 whereas the same was at Rs 207.68 crore for the quarter ended September 30, 2005. Total income is Rs 2095.63 crore for the quarter ended September 30, 2006 whereas the same was at Rs 1129.89 crore for the quarter ended September 30, 2005.

The company, through its wholly owned subsidiary AE-Rotor Holding B.V., The Netherlands (AE-Rotor), has on May 10, 2006, purchased 100 per cent of the share capital of Eve Holding NV, Belgium for a consideration of Euro 431.43 million. By virtue of the acquisition of Eve Holding by AE-Rotor, the company has 100 per cent ownership of Hansen Transmissions International NV, Belgium along with its subsidiaries, which are engaged in the business of design, development, manufacturing and supply of industrial and wind gear boxes and is the second largest wind energy gearbox manufacturer in the world having approximately 33 per cent global market share.

The above consolidated results for the quarter ended September 30, 2006, inter alia includes the results of Eve Holding NV, Belgium.

Accordingly, the sales and gross margins for the consolidated results during the quarter ended September 30, 2006 are to that extent not comparable with the consolidated results of prior periods presented.

UNI SN MAZ SKB1809