Suzlon Energy Reports 66% Growth in Q3 Revenue

India-based wind turbine manufacturer Suzlon Energy has reported consolidated revenues of INR31.7 billion for the third quarter ending December 31, 2007, a 66% increase compared to the corresponding period of the previous year.

Revenues from overseas sales stood at INR17 billion, around 54% of total sales during the period. Profit after tax stood at INR1.43 billion with earnings per share at INR1.05 for the quarter.

Suzlon Energy’s consolidated order book stood at INR171.07 billion, as of January 25, 2008. The firm’s sales, in capacity, for 2007 are estimated at approximately 2,725MW, an increase of 66% compared to 1,637MW in 2006.

The firm said that it continued to strengthen its organization across the world, gaining momentum in key markets. The company rounded off the quarter securing major orders in Australia, Latin America and Europe, consolidating its position in global wind energy markets.

Tulsi Tanti, chairman and managing director of Suzlon Energy, said: “Worldwide concern on the issue of climate change continues to be a key driver for growth. High growth markets such as the US have continued their aggressive growth. We have maintained our orderbook position over the quarter, representing our strengthening position in global markets.”