Suzlon Energy shares surged over 18 per cent to an intraday high of Rs 25.90 on Monday after India's biggest wind turbine manufacturer reported a profit in the first quarter.
Suzlon Energy reported a net profit of Rs 1,047 crore for the April-June quarter, against a net loss of Rs 751 crore in the corresponding quarter of last fiscal.
Suzlon's Q1 profit were boosted by exceptional gain of Rs 1,314 crore, which the company booked as currency translation gains on account of disposal of its subsidiary Senvion SE to Centerbridge Partner LP.
However, on an adjusted basis, Suzlon's Q1 loss comes at Rs 279 crore, which is much lower than the Rs 750 crore loss booked in the year-ago period.
Analysts say a reduction in Suzlon's interest cost also helped its bottomline. Suzlon's interest cost fell 36 per cent sequentially to Rs 198 crore in the June quarter.
Suzlon's net debt now stands at Rs 7,010 crore as of June 30, 2015 against Rs 14,821 crore at the end of fiscal 2015.
Suzlon shares closed 11.64 per cent higher at Rs 24.45 apiece, against 0.12 per cent gain in the broader Nifty.
Suzlon Energy shares surged over 18 per cent to an intraday high of Rs 25.90 on Monday after India's biggest wind turbine manufacturer reported a profit in the first quarter.
Suzlon Energy reported a net profit of Rs 1,047 crore for the April-June quarter, against a net loss of Rs 751 crore in the corresponding quarter of last fiscal.
Suzlon's Q1 profit were boosted by exceptional gain of Rs 1,314 crore, which the company booked as currency translation gains on account of disposal of its subsidiary Senvion SE to Centerbridge Partner LP.
However, on an adjusted basis, Suzlon's Q1 loss comes at Rs 279 crore, which is much lower than the Rs 750 crore loss booked in the year-ago period.
Analysts say a reduction in Suzlon's interest cost also helped its bottomline. Suzlon's interest cost fell 36 per cent sequentially to Rs 198 crore in the June quarter.
Suzlon's net debt now stands at Rs 7,010 crore as of June 30, 2015 against Rs 14,821 crore at the end of fiscal 2015.
Suzlon shares closed 11.64 per cent higher at Rs 24.45 apiece, against 0.12 per cent gain in the broader Nifty.
Suzlon Energy shares surged over 18 per cent to an intraday high of Rs 25.90 on Monday after India's biggest wind turbine manufacturer reported a profit in the first quarter.
Suzlon Energy reported a net profit of Rs 1,047 crore for the April-June quarter, against a net loss of Rs 751 crore in the corresponding quarter of last fiscal.
Suzlon's Q1 profit were boosted by exceptional gain of Rs 1,314 crore, which the company booked as currency translation gains on account of disposal of its subsidiary Senvion SE to Centerbridge Partner LP.
However, on an adjusted basis, Suzlon's Q1 loss comes at Rs 279 crore, which is much lower than the Rs 750 crore loss booked in the year-ago period.
Analysts say a reduction in Suzlon's interest cost also helped its bottomline. Suzlon's interest cost fell 36 per cent sequentially to Rs 198 crore in the June quarter.
Suzlon's net debt now stands at Rs 7,010 crore as of June 30, 2015 against Rs 14,821 crore at the end of fiscal 2015.
Suzlon shares closed 11.64 per cent higher at Rs 24.45 apiece, against 0.12 per cent gain in the broader Nifty.
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