Suzlon Q2 loss at Rs 656 cr; logs rise in income

Its total income in Q2 increased from Rs 4,820 cr a year ago to Rs 5,391 cr

Wind turbine maker Suzlon Energy today posted net loss of Rs 656.21 crore for the second quarter ended September 30, 2014-15.

The company had reported a net loss of Rs 782.37 crore for the July-September quarter, 2013-14.

Its total income in Q2, 2014-15 increased from Rs 4,820.54 crore a year ago to Rs 5,391.76 crore.

Suzlon plans to list its German subsidiary Senvion on the London Stock Exchange through an initial public offer which is likely to garner close to Rs 7,000 crore.

The company renamed its subsidiary REpower as Senvion, last year. REpower, which was founded in 2001, was acquired by Suzlon Energy in December 2009.

"Globally, we will leverage Senvion's leadership in off-shore technology to capitalise on the growing demand in the offshore segment. The Indian market has witnessed a positive impact of the government's thrust on clean energy and policy reforms," Suzlon Group Chairman Tulsi Tanti said in a statement.

"We have launched new products and will continue to invest in technology to provide clean and affordable energy for all," he added.

Meanwhile, Suzlon which is planning a business revival strategy has set a target of raising Rs 1,000 crore through the sale of its non-core assets during the current fiscal.

The company's order-book on September 30 stood at $6.3 billion.

Suzlon shares closed at Rs 13.45, up 1.97 per cent, on the BSE.