Suzlon Energy,world's fifth largest wind turbine supplier,said it has achieved significant operating turnaround in Q1 FY12 by registering a net profit of Rs 60 crore against loss of Rs 912 crore in the same period last year. The company has registered 80 per cent YoY growth in revenues to Rs 4,326 crore (USD980 million) in Q1 FY12. The EBITDA stood at Rs 490 crore (USD 111 million) in Q1 FY12 as against negative EBITDA of Rs 546 crore (USD 124 million) of Q1 FY11. "We have reported a profitable first quarter,with a major turnaround from a loss of Rs 912 crore in Q1 FY11 to a profit of Rs 60 crore in Q1 FY12. We have improved our gross profit levels to 35 per cent despite a very competitive market environment and rising commodity prices," Suzlon Energy Chief Financial Officer,Robin Banerjee said here. We have maintained our focus on consistently improving operational efficiency,managing our debt profile,and securing orders,Banerjee said,adding that the Suzlon Group has strong order book of nearly Rs 30,000 crore. "We are pleased to report a strong first quarter on all operational parameters with an EBIT margin of 8.1 per cent. Our performance is in line with our full year guidance,and we have maintained a very strong order book at USD 6.63 billion,Suzlon Group's Chairman and Managing Director,Tulsi R Tanti said in a statement.
