Suzlon posts positive EBITDA for 3rd consecutive quarter
Pune, Oct 31 (IBNS): Wind turbine manufacturer Suzlon Group on Friday announced its results for the Q2 FY15 where it posted a positive EBITDA for 3rd consecutive quarter.
The EBITDA stood at Rs. 114 crores as against Rs. 31 crores last year.
The company reported its H1 FY 15 revenues of Rs. 9,974 crores, which is16% YoY growth.
Its H1 FY 15 gross margins improved to 32.5% from 27.3%.
Tulsi Tanti, Chairman – Suzlon Group, said: “I take pride to share that we achieved a significant milestone of 25,000 MW installations globally. The group remains focused on high growth and profitable markets and is well positioned to gain in its core markets."
"Globally, we will leverage Senvion’s leadership in off-shore technology to capitalize on the growing demand in the offshore segment. The Indian market has witnessed a positive impact of the government’s thrust on clean energy and policy reforms. We have launched new products and will continue to invest in technology to provide clean and affordable energy for all," Tanti said.
Kirti Vagadia, Group Head of Finance, said: “We achieved a positive EBITDA in first half which is historically lower than the second half. We have improved our gross margin by 500 basis points in H1 FY15, primarily due to better product and market mix. We continue to optimize our working capital to improve our operational performance.“
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