Suzlon Energy posts quarterly net loss of Rs.286.46 crore

India’s wind turbine manufacturing major Suzlon Energy Saturday posted net loss of Rs.286.46 crore for the quarter ended Dec 31.

It had posted a net loss of Rs.253.57 crore during the same period of the previous financial year, the company said in a regulatory filing.

Total income stood at Rs.5,063.4 crore during the quarter under review against Rs.4,528.25 crore during the year ago period.

“These lower volumes were primarily due to an extended monsoon in India, grid infrastructure delays in China, and a procedural delay in closing our new working capital facilities,” said Tulsi Tanti, chairman, Suzlon Group.

“As a group, we are extremely well positioned in the global marketplace, and with our strong order backlog we expect to deliver nearly 40 percent growth in revenues in the next fiscal,” he added.

At the Bombay Stock Exchange, the shares of the company Friday closed 2.23 percent down at Rs.30.75.