Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
22 May, 2015 21:34 IST
Suzlon reports four fold jump in Q3 loss to Rs 11.55 bn
Source: IRIS | 14 Feb, 2013, 08.25PM
Comments  |  Post Comment

Suzlon Energy,  the world's fifth largest wind turbine supplier, posted a consolidated net loss of Rs 11,545.30 million for the quarter ended Dec. 31, 2012 as compared to net loss of Rs 2,864.60 million for the corresponding quarter last year. The net loss  increased  4-fold.

Consolidated total income dropped 19.6% to Rs 40,741 million from Rs 50634.10 million during the same period. Numbers were quite below analysts' expectations. Analysts on an average had expected net loss of Rs 3070 million and total income of Rs 55,770 million for the quarter.

Suzlon posted a consolidated forex loss at Rs 470 million during the quarter as against loss of Rs 343 million in the corresponding quarter of last fiscal.

In another announcement, the company said the board has decided to close its Rotor Blade and Control Panel manufacturing units at the Puducherry (Pondicherry) manufacturing facility.

The decision follows on account of the challenges faced in industrial relations at the manufacturing facility coupled with logistical issues faced by the facility in handling multi-MW wind turbine components of increasing size and the current financial position of the company.

This, however, does not include the Nacelle unit at the same facility, which could see utilisation as a service centre. This would also help the company in reduction of opex and working capital intensity as well as rationalize capacity in the company's supply.

Shares of the company gained Rs 0.85, or 3.71%, to settle at Rs 23.75. The total volume of shares traded was 9,306,250 at the BSE (Thursday).





Suzlon Energy Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
RBI removes restrictions on new FII investment in Ipca Lab - 22-May-2015 18:30
RBI raises FII investment limit in Somany Ceramics to 40% - 22-May-2015 18:20
ITC Q4 profit climbs 3.6%, misses forecasts - 22-May-2015 17:38
Karnataka Bank quarterly profit jumps 65.5% - 22-May-2015 15:50
Tata Motors launches PRIMA in Bangladesh - 22-May-2015 15:42
Tata Motors launches PRIMA in Bangladesh - 22-May-2015 15:42
Strides Arcolab turns to profit in Jan-Mar quarter - 22-May-2015 15:30
Punj Lloyd reports Rs 2.69 bn profit in Q4 - 22-May-2015 15:25
No order to recall Maggi Noodles being sold: Nestle India - 22-May-2015 15:19
SBI witnesses improvement in asset quality - 22-May-2015 14:24
Hi-Tech Gears Q4 profit surges 83.78% - 22-May-2015 14:02
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer