Suzlon eyes profits this fiscal

Suzlon eyes profits this fiscal

Suzlon eyes profits this fiscal

 After having gone through tough days, wind turbine maker Suzlon is hoping for happy days once again. The company is aiming to become profitable in the current fiscal itself, according to company chairman and managing director, Tulsi Tanti.

“We will be in profits in FY16. We have taken three major initiatives: we have reduced our fixed costs, increased our margins increased volumes and reduced our interest costs. By doing this, we are improving our profitability,” Tanti told Deccan Herald.

Suzlon had reported a consolidated net loss of Rs 113.17 crore for the third quarter ended December 31, 2015, as compared with a loss of Rs 181.1 crore in the quarter ended September 30, 2015, and a loss of Rs 6,538.68 crore in the same quarter previous fiscal.

According to Tanti, the company is also working on developing hybrid solar and wind parks. “We are working on developing hybrid solar and wind parks. That is the next generation of renewable energy technical solutions. The hybrid project will utilise common resources and also enhance the plant load factor in the grid, which is very important from a utility perspective,” Tanti said.

“We are planning the first hybrid projects in Rajasthan and Gujarat and Andhra Pradesh and it will be ready before March 2017,” Tanti added.

The company is also bullish about export prospects going forward. “Currently, domestic demand is very good and so we are giving priority to domestic markets. Now we are giving almost 90% of our total production locally,” Tanti said.

“We are already doing exports. Some volumes of exports will increase in the next year. In the last project, we made exports to Turkey and last year, we had made some exports to Uruguay. Currently it is low, but in the next three years it will increase,” Tanti added.