Suzlon Energy’s Net loss increased in FY11

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Suzlon Energy’s Net loss increased in FY11
Suzlon Energy Ltd. posted its unaudited consolidated results for fiscal ending March, 2011 on May 14, 2011. It posted an increase in Net Loss to Rs. 1,103.43 crore this fiscal from Net Loss of Rs. 989.73 crore previous fiscal.

The company"s Total Operating income decreased by 12.94% to Rs. 18090.23 crore in the fiscal ending March, 2011, compared to Rs. 20779.21 crore for the same period last year. Whereas the total Operating income for the quarter ending March, 2011 increased 19.60% to Rs. 7372.10 crore compared to Rs. 6164.22 crore last year. Most of the company"s revenue is composed of revenue from Wind Turbine Generation.

In the results, the company saw a 14.29% YoY rise in its total expenditure for the Q4 ending March, 2011 to Rs. 6599.35 crore. This was mainly attributable to decrease in stock in trade and work in progress for the current quarter. Whereas, the total expenditure decreased in the fiscal ended March, 2011 by 12.39% to Rs. 17939.50 crore compared to similar period last year. The decrease was because of decreased employee cost and decreased other expenditure.

The other income was Rs. 29.50 crore in the Q4, 2010-11 compared to Rs. 10.36 crore for Q4, 2009-10 and increased to Rs. 106.60 crore for the fiscal ended March, 2011, compared to Rs. 69.46 crore in fiscal ended March, 2010. The company saw an increase in profit after interest but before exceptional item and tax for the Q4 2010-11, of 389.68% to Rs. 489.68 crore compared to Rs. 100.00 crore in the corresponding period previous year.

On the contrary, for the fiscal ended March 2011, the company"s loss after interest but before exceptional item and tax increased by 3.89% to Rs. 878.34 crore, compared to previous fiscal.

The net interest increased for Q4, 2010-11, by 4.13% YoY, to Rs. 312.57 crore and for the fiscal, it decreased by 4.97% to Rs. 1135.67 crore. The total tax expense decreased by 86.02% YoY to Rs.41.29 crore for the quarter and decreased by 49.25% YoY to Rs. 180.73 crore for the fiscal ended March, 2011.

The company"s Net profit for Q4, 2011 was Rs. 431.59 crore as compared to Rs. 188.47 crore Net loss in the corresponding period last year, after adjusting for minority interest and associate"s share in profits.

As mentioned above, for the year ending March, 2011 the company posted a net loss of Rs. 1103.43 crore, compared to a net loss of Rs. 982.56 crore last year. The most of the income of the company is eaten by the by very high interest expenses.

Read more about: results, power, suzlon energy, bse, nse
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