Saturday, May 29, 2010
RE Power FY10 net income up at Euro 57.9 mn (Rs.333.504 cr), But SUZLON's CFO QUITS
RE Power, a subsidiary of Suzlon Energy, has announced its financial year 2009-10 results.
It has reported net income of Euro 57.9 million (Rs.333.504 cr) as against Euro 51.9 million (Rs.298.944 cr) (YoY).
Sales rose 8.5% to Euro 1.3 billion (Rs.7488 cr) versus Euro 1.2 billion (Rs.6912 cr) (YoY).
Earning before interest and tax (EBIT) margin improved at 7.4% versus 6.3%. Order backlog rose 40% to Euro 2.1 billion (Rs.12096 cr) .
REPower Guidance -
-Management expects a 10-20% increase in the overall performance
-Sales guidance of approximately. Euro 1.5 to 1.6 billion (Rs.8640 - Rs.9216 cr)
-EBIT margins seen increasing to 7.5-8.5% .
BUT, Suzlon Energy Ltd's Chief Operating Officer Sumant Sinha has quited today.
Sinha was considered to have been responsible for the company’s recent refinancing of its overseas bonds. An official announcement may be made today, Sinha was previously with Aditya Birla Retail and the Son of fromer finance minister Mr. Yaswant Sinha.....With Sumant quiting future of Suzlon's debt restructuring seems to be in dark........Meanwhile waiting for the official declaration of Suzlons results......
Suzlon Energy's result on 29th May 2010. at 4.30pm Pune, (please notice the timing of post...reported much earlier than all...)