Shares of Suzlon Energy were down over 4% at Rs 12.46 after the company's standalone net profit for the fourth quarter ended March 31, 2013 more than doubled to Rs 816 crore from Rs 309 crore in the same quarter last fiscal because of declining sales, delays in execution and huge interest burden.
"This has been an extremely difficult year for the Suzlon Group. We faced both significant internal challenges on the liability management front, and externally with a highly competitive global wind sector, and turbulent India market which shrank by almost 50%," the company said in a release quoting Tulsi Tanti, Chairman - Suzlon Group.
On a consolidated basis, the company's net loss in the fourth quarter increased to Rs 1,913 crore from Rs 300 crore in the same quarter last year. Total income decreased to Rs 4,359 crore from Rs 6,855 crore in the same quarter last year.
Over 2 million shares were traded on both the stock exchanges so far.
