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Last Updated : Aug 06, 2018 02:18 PM IST | Source:

Suzlon Energy plunges 7% on reporting losses in Q1

Revenue fell to Rs 1,277.49 crore versus Rs 2,581.99 crore.

Moneycontrol News @moneycontrolcom
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Shares of Suzlon Energy rose 7.5 percent intraday Monday as company reported loss in the quarter ended June 2018.

The company's Q1FY19 loss was at Rs 575 crore versus profit at Rs 47.84 crore in the same quarter last fiscal.

Also, revenue fell to Rs 1,277.49 crore versus Rs 2,581.99 crore.

J P Chalasani, Group CEO, Suzlon said, “Indian wind market is on a growth trajectory with 7.5 GW of capacity already auctioned, from this we have the highest order share. However, FY19 may not see huge commissioning volumes as the transition period is prolonging and as a result of the new bidding regime, project execution time has increased from 9 to 18 months. This has caused temporary delay in realizations."

At 14:08 hrs Suzlon Energy was quoting at Rs 7.34, down Rs 0.55, or 6.97 percent on the BSE.

Posted by Rakesh Patil
First Published on Aug 6, 2018 02:18 pm
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