Suzlon Energy Ltd. shares fell as much as 6% to Rs 49.47 on Tuesday after the wind turbine maker reported a decline in first-quarter profit and a contraction in operating margin despite posting higher revenue.
The company reported consolidated net profit of Rs 305 crore for the quarter ended June, down 5.9% from Rs 324 crore a year earlier. Revenue increased 22.3% year on year to Rs 3,830 crore from Rs 3,132 crore.
Suzlon Energy (Q1, Consolidated YoY)
Revenue up 22.3% to Rs 3,830 crore versus Rs 3,132 crore.
Ebitda down 0.5% to Rs 596 crore versus Rs 599 crore.
Margin at 15.6% versus 19.1%.
Net profit down 5.9% to Rs 305 crore versus Rs 324 crore.
Earnings before interest, tax, depreciation and amortisation, or EBITDA, was broadly unchanged at Rs 596 crore compared with Rs 599 crore a year earlier. EBITDA margin narrowed to 15.6% from 19.1%.
According to the company's quarterly earnings, consolidated revenue rose 22.3% year on year to Rs 3,830 crore, while net profit declined 5.9% to Rs 305 crore.
The company also reported EBITDA of Rs 596 crore for the June quarter, compared with Rs 599 crore in the same period last year. Its EBITDA margin contracted to 15.6% from 19.1%, according to the earnings announcement.
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