Suzlon Energy profit up 81%

New Delhi: Suzlon Energy on Thursday posted over 81 per cent rise in consolidated net profit to Rs 102.29 crore for September quarter 2023-24 mainly due to decline in expenses. Net profit in the year-ago period was Rs 56.47 crore, according to a BSE filing by the company. Total income declined to Rs 1,428.69 crore in the second quarter from Rs 1,442.58 crore in the same period a year ago. Total expenses also dipped to Rs 1,291.26 crore from Rs 1,427.84 crore. “At the end of Q2 FY24, our orderbook stands at a healthy 1,613 MW...Our service business continues to do well, while our forging and foundry business SE Forge consolidated on its foundation for future growth,” J P Chalasani, Chief Executive Officer, Suzlon Group, said. Himanshu Mody, Chief Financial Officer, Suzlon Group, said the company was anchored strongly with a net cash of Rs 599 crore by September 2023 which is a significant shift from net debt of Rs 1,180 crore in March 2023.