Suzlon loss widens to Rs 6,538 cr on higher provision

Loss in the year-ago period was Rs 1,075 cr

Wind turbine maker Suzlon's consolidated net loss widened to Rs 6,538 crore in third quarter FY15 from Rs 1,075 crore in same period last year due to a provision for goodwill impairment.

Last month Suzlon sold its German subsidiary Senvion to US private equity Centrebridge for about Rs 7,200 crore. In its quarterly earnings the company reported a provision of Rs 5,935 crore as an exceptional item. Excluding the exception item, net loss for the third quarter halved to Rs 410 crore from Rs 822 crore in the third quarter of last fiscal.  

The company said it earning before interest tax depreciation and amortisation increased to Rs  295 crore from a Ebidta loss of Rs  137 crore in same quarter last year and margin increased 2.7 percent on a flat revenue of Rs  4954 crore. The company said it was fourth consecutive quarter when it reported positive Ebidta result.