Suzlon's net profit jumps by 47% in FY 2016/17

Suzlon wind turbines. Author: Otávio Nogueira. License: Creative Commons, Attribution 2.0 Generic

Indian wind turbine maker Suzlon Energy Ltd (BOM:532667) reported a net profit of INR 8.39 billion (USD 127.8m/EUR 114.4m) for fiscal 2016/17, up by 47.2% year-on-year.

Revenues were up by 35% to INR 126.9 billion.

The company said on Friday it installed 1.78 GW for the fiscal year, which ended on March 31, the highest yearly deployment level it has achieved so far. The company’s market share in India rose to 32% from 26% in the previous fiscal year.

The table below gives more details on Suzlon’s performance in the full year and the January-March quarter.

All in INR billions	FY 16/17	FY 15/16	Jan-Mar '17	Jan-Mar '16
Revenue	126.9	94.3	49.9	32.2
Gross margin (in %)	40.6	40.6	34	35.8
EBITDA (pre-FX effect)	22	13.4	7.2	4.44
EBITDA	25	11	10.3	3.6
Net profit (loss)	8.4	5.7	5.8	(3.34)

Suzlon said in the presentation it plans to prioritise markets based on opportunity, sustainability and ease of access. Its order book has reached 1,562 MW, including 231 MW from the solar division.

At the end of March the company has consolidated net term debt, excluding foreign currency convertible bonds, of INR 61.98 billion, down from INR 65.28 billion a year back.

(INR 100 = USD 1.52/EUR 1.36)

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