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Suzlon shares tank over 5% as March quarter net loss widens

According to reports, stocks of Suzlon Energy fell by over 5 per cent today after the company’s consolidated losses widened to Rs 1,212.06 crore during the March quarter.

The stock dipped 5.36 per cent to end at Rs 23.85 on the BSE. During the day, it plunged 6.15 per cent to Rs 23.65.

At the NSE, it was down 5.15 per cent to close at Rs 23.90.

On the volume front, 76.52 lakh shares of the company changed hands at the BSE while over 3 crore shares were traded at the NSE during the day.

Wind turbine maker Suzlon Energy’s consolidated losses widened to Rs 1,212.06 crore during the March quarter due to a fall in income and provision for impairment of goodwill, following sale of its German subsidiary Senvion.

The company had reported a consolidated net loss of Rs 603.45 crore in the year-ago period, Suzlon Energy had said in BSE filing on Friday.

The firm’s consolidated total income during the quarter stood at Rs 4,926.38 crore, a decline of 25.8 per cent from the comparable period.

For the year ended March 2015, the company’s consolidated net loss widened to Rs 9,157.69 crore.

For year ended March 2014, the company’s consolidated net loss was at Rs 3,519.97 crore.

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