Suzlon demonstrates sustainable turnaround; posts net profit of Rs.839 crores in FY17
Tulsi Tanti, Chairman and Managing Director, said, “It gives me immense pleasure to announce that Suzlon delivered yet another profitable year. Our focus has been on restoring the confidence of every stakeholder and today, the performance speaks for itself. We continue to work towards scaling greater heights. I congratulate and thank our management team, employees, customers, bankers, vendors, suppliers and shareholders who continued to support us throughout our journey.”
J P Chalasani, Group CEO, said, “We continue to demonstrate strong operational performance on every front including volume growth, commissioning and order intake. The performance in Q4 FY17 displayed the never-say-die spirit of Suzlon in achieving such record numbers for the first time in its illustrious history. Furthermore, we created ~1,800 MW of blade manufacturing capacity in one single year. All that we committed at the beginning of the year has been delivered and we look forward to capitalize on the potential in the industry.”
Kirti Vagadia, Group CFO, said, “We started FY17 with a clear focus on profitability which we delivered by ramping up volumes and exercising better control over fixed costs. Despite achieving phenomenal growth in volumes and profitability, we have managed to reduce our net working capital, optimized the debt profile and continue to maintain strong liquidity position for future ramp up.