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5 Major Takeaways From The IEA's World Energy Outlook 2020

5 Major Takeaways From The IEA's World Energy Outlook 2020

The IEA’s flagship publication has…

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



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