Suzlon Energy tanks as Q3 loss widens
The company reported its biggest ever quarterly loss of Rs 1,155 crore for the third quarter ended December 31, 2012 due to liquidity constraints.
Suzlon Energy has dipped 10% to Rs 21.20 after reporting its biggest ever quarterly loss of Rs 1,155 crore for the third quarter ended December 2012 (Q3) due to liquidity constraints. The wind turbine maker had suffered loss of Rs 302 crore in a year ago quarter.
“The company’s business performance has been adversely hit due to abnormal operating environment and liquidity constraints” Suzlon Energy said in a statement.
Its revenues declined by 19.5% to Rs 4,074 crore during quarter under review as against Rs 5,063 crore in the same quarter last year. Meanwhile, the company said its current order book is valued at around Rs 41,546 crore, up 2.6% from the year-ago period.
The stock opened at Rs 21.40 and hit a low of Rs 19.75 in early morning trades on NSE. A combined 32.9 million shares have changed hands on the counter on NSE and BSE thus far.
“The company’s business performance has been adversely hit due to abnormal operating environment and liquidity constraints” Suzlon Energy said in a statement.
Its revenues declined by 19.5% to Rs 4,074 crore during quarter under review as against Rs 5,063 crore in the same quarter last year. Meanwhile, the company said its current order book is valued at around Rs 41,546 crore, up 2.6% from the year-ago period.
The stock opened at Rs 21.40 and hit a low of Rs 19.75 in early morning trades on NSE. A combined 32.9 million shares have changed hands on the counter on NSE and BSE thus far.