On a standalone basis, wind energy major Suzlon Energy has reported a net loss of Rs 309 crore during the fourth quarter in 2012 against a net profit of Rs 309.8 crore during the same quarter of FY 11.
All the loss in the quarter ended March 31, 2012, is attributable to diminution in the value of investments that stood at Rs 349 crore. This is listed as an exceptional item.
Income from operations during the comparable two quarters grew nearly 29 per cent year-on-year to stand at Rs 2,023 crore.
For the year as a whole, the company has posted a standalone loss of Rs 505 crore, against a loss of Rs 185 crore during FY 11. Income grew 57 per cent to stand at Rs 6871 crore against Rs 4366 crore during the previous fiscal. Loss per share increased to Rs 2.84 against Rs 1.09.
On a consolidated basis too, Suzlon has posted a Q4 loss of Rs 299 crore against a profit of Rs 227 crore in the same quarter of last year.
Total income too, dropped by around eight per cent year-on-year to stand at Rs 6,815 crore. “The net loss was primarily due to high interest rates, notional forex impact and non-cash tax items,” said Mr Kirti Vagadia, CFO, Suzlon Group.
Total income for the Group during FY12 stood at Rs 21,082 crore, and the EBIT margin was 5.5 per cent. The company's FY13 guidance places revenues of Rs 27,000 crore to Rs 28,000 crore, and EBIT margin of six per cent.