Earnings at Indian turbine manufacturer Suzlon Group soared to Rs745 crores (€104m) in the third quarter of the 2016-17 financial year, up 124% on the same period last year.
Revenues grew 24% compared with last year to Rs3307 crores and the company made a net profit of Rs304 crores in the quarter, a rise of Rs350 crores on 2015-16.
Suzlon achieved 557MW in new orders during the quarter, with the overall order book standing at 1231MW and valued at Rs7523 crores.
Suzlon Group chief executive JP Chalasani said: “The domestic market is likely to grow in size, mainly due to the state feed-in-tariff programs, inter-state transmission system with non-windy states, and the demand to meet the renewable purchase obligations.
“The competitive bidding process held recently will drive volume growth in the industry.
“With 14 manufacturing facilities we are the only OEM with blade capacities in all key windy states.”
Image: Suzlon
