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Suzlon Energy Ltd has informed BSE that the company has posted a net loss of Rs 19.39 crore (standalone basis) for the second quarter ended September 30, 2011 where as the same was at Rs 89.05 crore for the quarter ended September 30, 2010.
Total income was Rs 2,029.41 crore for the quarter ended September 30, 2011 against Rs 1,176.02 crore for the quarter ended September 30, 2010.
On a consolidated basis, the group has posted a net profit after share in associate’s profit and minority interest of Rs 48 crore for the quarter ended September 30, 2011 against a loss of Rs 369.23 crore for the quarter ended September 30, 2010.
Total income stood at Rs 5,154.45 crore for the quarter ended September 30, 2011 compared with Rs 3,839.01 crore for the quarter ended September 30, 2010.
During the last quarter of FY 2010-11, the company concluded that non-alignment of the revenue recognition policy of REpower to that of Suzlon would result in more appropriate presentation of the financial statements and changed the process of consolidation from the quarter ended March 31, 2011.
Accordingly, the consolidated financial results for the quarter and half-year ended September 30, 2011 are to that extent not comparable.
Had the company applied the same policy in the quarter ended September 30, 2010, the revenues and net loss after tax for the quarter ended September 30, 2010 would have been higher by Rs 156.35 crore and Rs 24.87 crore, respectively.
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