Suzlon loses all energy
By
Research Desk
about 11 years ago
Suzlon Energy is down deep in the red today. The stock has hit a new 52-week low at Rs.12.35 and though up from that level, it remains almost 5% down at Rs.12.41.
The stock has lost all its energy after it posted a much bitter set of numbers for Q4FY13. It’s consolidate net loss has risen manifold – at Rs.1913 crore, up from the loss of Rs.300 crore in Q4FY12. Its topline has also declined, from Rs.6700 crore to Rs.4281 crore.
Apart from a lower topline, the loss has risen on account of forex loss, asset impairments and tax credit reversals, amounting to Rs.1100 crore. Delays in execution have also led to the cancellation of a small number of orders, totalling 195 MW in Suzlon Wind.