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Finance Chart | March 2013

Suzlon books Q3 net loss at Rs 1,154 crore

Suzlon Energy, the world's fifth largest wind turbine supplier, booked a consolidated net loss of Rs 11,545.30 million for the third quarter ended December 31, 2012 as compared to net loss of Rs 2,864.60 million for the corresponding quarter last year. The net loss increased fourfold and the consolidated total income dropped to Rs 40,741 million which is a fall of 19.6 per cent from Rs 50,634.10 million during the same period. Experts had on an average expected net loss of Rs 3,070 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 that the board has decided to close its Rotor Blade and Control Panel manufacturing units at the Puducherry (Pondicherry) manufacturing facility. The decision was taken due to the challenges faced in industrial relations at the manufacturing facility along 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.
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