Suzlon Energy Q1 net slips into red

Suzlon Energy has announced its unaudited results for the quarter ended June 30, 2009.

The company has posted a net loss of Rs 160.47 crore for the quarter ended June 30, 2009 against a net profit of Rs 88.04 crore for the quarter ended June 30, 2008. Total income for the quarter stood at Rs 359.32 crore against Rs 1,496.28 crore for the June’ 2008 quarter, down 75.99%.

On consolidated basis the group has posted a net loss of Rs 452.67 crore for the quarter under consideration against a net profit of Rs 9.30 crore for the corresponding quarter of the previous fiscal. Total income has increased from Rs 3,197.08 crore to Rs 4,192.72 crore, registering 31.14% jump on Year-on-Year (YoY) basis.

The consolidated figures for the current quarter are not comparable with those of the previous year as the results of RE power has been merged with the group’s results.

RE power has become a subsidiary of the company with effect from June 06, 2008 and the company is holding stake of 90.72% in the same as on June 30, 2009.