Repower posts 21% hike in net profits
REpower, the German subsidiary of Suzlon Energy, has posted a 21.5% increase in net profit at approximately Rs 121.9 crore for the first half of 2009-10, from Rs100.3 crore in the previous year. Sales were up about 14.8% YoY for the half-year period from Rs 3,691.7 crore to Rs 4,239.3 crore.
Parent company Suzlon had earlier posted losses of Rs355.5 crore for the third quarter ended September, as against a loss of Rs22.8 crore in the previous year’s corresponding quarter.For the first six months of the current financial year, Suzlon’s losses were Rs808 crore. Consolidated revenues for the quarter had also shrunk by 44.4% to Rs4,793 crore, as against Rs6,921 crore in the corresponding previous year’s quarter.