Suzlon Energy's Sep-quarter net loss at Rs 777 cr on subdued operations

Suzlon Energy on Thursday reported widening of its consolidated net loss to Rs 777.52 crore in the quarter ended September 30, 2019.

The company had reported a net loss of Rs 625.76 crore in the corresponding quarter last fiscal, Suzlon Energy said in a BSE filing.

Its revenue from operations fell to Rs 803.09 crore during the quarter under review as against Rs 1,194.99 crore in the year-ago period.

The company's total expenses were at Rs 1,551.16 crore as against Rs 1,850.28 crore in the same period of preceding fiscal.

"The sector is witnessing issues on project execution due to some policy issues but there has been some healthy growth in installations over the last year. Wind capacities added in India in H1 2019-20 was at 1,304 MW as compared to 569 MW in H1 2018-19," Suzlon Group CEO J P Chalasani said in a separate statement.

"Our operations are at a subdued level with minimal allocation of funding as we are trying to fix our capital structure," he added.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel