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Suzlon Energy reports consolidated net loss of Rs 1323.97 crore for FY11

01 Aug 2011 Evaluate

Suzlon Energy has reported results for the year ended March 31, 2011

The company’s net loss has narrowed down substantially at Rs 185.66 crore for the year ended March 31, 2011 as compared to net loss of Rs 1414.09 crore for the year ended March 31, 2010. Its total income increased by 25.89% at Rs 4698.06 crore for the year whereas the same was at Rs 3731.82 crore for the previous year.

On Consolidated basis, the Group ‘s net loss after share in associate's profit and minority interest stood at Rs 1323.97  crore  for the year ended March 31, 2011 whereas the same was at Rs 982.56 crore for the previous fiscal. Its total income for the year under review stood at Rs 18196.83 crore whereas the same was at Rs 20848.67 crore for the previous year.

Hansen Transmissions International NV ('Hansen') ceased to be a subsidiary of the company with effect from November 24, 2009. The company holds 26.06% stake in Hansen as on March 31, 2011 and has accounted for it as an associate. Hence, the consolidated financial figures for the year ended March 31, 2010 inter alia include the financial figures of Hansen till November 2009 as subsidiary and subsequently as an associate. Accordingly, the consolidated financial results for the year ended March 31, 2011 are to that extent not comparable with the consolidated financial results of the prior periods presented.

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