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Web Exclusive | August 2013

Net loss of Suzlon Energy rises to Rs 10.5 bn

Consolidated net loss of Suzlon Energy rose to Rs 1,058.90 crore in Apr-Jun 2013, higher than net loss of Rs 848.97 crore in the year-ago period.

Total income declined 19.39 percent to Rs 3,907.50 crore in the quarter compared to the previous year period.

Consolidated order book of the firm stood at 5.36 gw, approximately Rs 41,947 crore or $7.1 billion in value, with an intake of 356 mw over the quarter under consideration.

The company's management, as a precautionary measure, excluded from the order book a US project totalling 200 mw due to non-movement of the order.

The previously announced initiative to divest approximately $400 million of non-critical assets continues to be on track, the firm said.

The company continues to be in active, solution-oriented dialogue with FCCB-holders, their advisors, and the company's senior secured lenders, it added.

According to Tulsi Tanti, Chairman of Suzlon Group, this has been a progressive quarter for the group as it regained some of the lost momentum and began to see results from the Group's ongoing focus on key priorities.

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