Suzlon Energy Q3 loss at Rs 252 crore

NEW DELHI: World's third largest maker of wind turbines, Suzlon Energy, has reported a net loss of Rs 252.31 crore in the third quarter ending December 2010 due to foreign exchange fluctuation and interest burden. The group had reported a net profit of 22.70 crore in the same quarter of last fiscal.

Suzlon Energy chief financial officer Robin Banerjee said: "Notional forex losses have impacted our reported bottom line due to the significant volatility in the euro-rupee exchange rates. We are very clearly headed in the right direction."

Suzlon's total income during the quarter slipped 19.86% during the third quarter of the present financial year to 4,454.83 crore from 5,501.06 crore in the corresponding three-month period last fiscal. The company's interest burden grew to 294.41 crore compared with Rs 289.51 crore in the same period last year.

However, the group said its order book rose by about 35% to highest ever level of 5,000 mw valued at $ 7.3 billion (about 33,580 crore). Last month Suzlon entered into a $1.28 billion pact for supply of equipment with Caparo Energy.

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