When the ' GEN ' light goes out, it doesn't mean the battery is being charged, it just indicates the charging system is working .
Until the engine rpm's get to around the 3000-4000 rpm area, the charging system is just creating enough power to operate the electrical systems in use on the bike, usually not enough to do any real charging to the battery .
I have a voltmeter on my Guzzi, factory installed, it is a great source of information on how the charging system is operating, you can catch an issue, before it becomes a big problem .
When you can get around to it, if you haven't already, go through the electrical connections and check for security and corrosion, this seems to be a common problem among older bikes, depending on the environment the bike is operated in .