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Suzlon posts Rs 52.3 cr net loss for Dec 31 period

Suzlon Energy on Monday said it has posted a net loss of Rs 52.3 crore for the nine-month period ending December 31, 2008, against a net profit of Rs 565.28 crore in the year-ago period.

However, the company's total income nearly doubled to Rs Rs 17,499.2 crore from Rs 8,924.3 crore during the same period, Suzlon said in a regulatory filing to the Bombay Stock Exchange.

The energy major's profit before tax declined to Rs 272.54 crore in the nine-month period ended December 31, 2008, from Rs 689.63 crore in the year-ago period. Suzlon Energy Chairman and Managing Director Mr Tulsi Tanti had earlier this month said that t he company would start operations in South Africa and expand in South America, where the company has a presence in Brazil. It is also looking at enhancing its operations in Europe.

The company, through its German arm REpower Systems AG, would supply and erect equipment for power projects in Canada from the next financial year (2010-11). Suzlon Energy plans to augment the manufacturing capacity of its equipment to support power gene ration of 5,700 MW by June this year, from the current 4,000 MW.
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