• 14 hours Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 15 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 15 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 16 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 17 hours Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 17 hours VW Fails To Secure Critical Commodity For EVs
  • 18 hours Enbridge Pipeline Expansion Finally Approved
  • 19 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 20 hours OPEC Oil Deal Compliance Falls To 86%
  • 1 day U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 2 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 2 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 2 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 2 days Aramco Says No Plans To Shelve IPO
  • 4 days Trump Passes Iran Nuclear Deal Back to Congress
  • 4 days Texas Shutters More Coal-Fired Plants
  • 5 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 5 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 5 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 5 days Renewable Energy Startup Powering Native American Protest Camp
  • 5 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 6 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 6 days India Needs Help To Boost Oil Production
  • 6 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 6 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 6 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 6 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 7 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 7 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 7 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 7 days Oil M&A Deals Set To Rise
  • 7 days South Sudan Tightens Oil Industry Security
  • 7 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 8 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
  • 8 days Indian Hydrocarbon Projects Get $300 Billion Boost Over 10 Years
This Major Political Shift Could Rock Copper Markets

This Major Political Shift Could Rock Copper Markets

Chile’s upcoming Presidential elections could…

Kobe Steel Scandal Could Rattle Nuclear Industry

Kobe Steel Scandal Could Rattle Nuclear Industry

The scandal at Japan’s Kobe…

Massive Growth for Indian Wind Energy Company Suzlon Energy

India’s Suzlon Energy, the world's fifth largest wind turbine supplier, today reported a net profit of $1.3 million for period April-June quarter of 2011-12.
 
The profit represents a significant turnaround in the company's fortunes, as during the same period last year Suzlon Energy lost $20.6 million, India’s Economic Times reported.

Suzlon Energy has registered an 80 percent year on year growth in revenues to $980 million for the period April-June 2012.
 
Suzlon Energy’s Earnings Before Interest, Taxes and Depreciation, Depletion and Amortization for the period April-June 2012 stood at $111 million as opposed to a negative EBITDA rate of $124 million for the same period in 2010.
 
Suzlon Energy Chief Financial Officer Robin Banerjee said, "We have reported a profitable first quarter, with a major turnaround from a loss of $20.6 million in Q1 FY11 to a profit of $1.3 million in Q1 FY12. We have improved our gross profit levels to 35 per cent despite a very competitive market environment and rising commodity prices. We have maintained our focus on consistently improving operational efficiency, managing our debt profile, and securing orders, " Banerjee said, adding that the Suzlon Group has strong order book of nearly $6.6 billion.
 
Suzlon Energy Group's Chairman and Managing Director Tulsi R Tanti said in a statement, “Our performance is in line with our full year guidance.”

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News