Suzlon posts loss of Rs 253.57 cr for Oct-Dec

NEW DELHI: Hit by notional forex losses, Wind power equipment maker Suzlon today reported a loss of Rs 253.57 for the quarter ended on December 31, 2010.

The company had a profit of Rs 14.10 crore in the same quarter last year, a statement said.

"... notional forex losses have impacted our reported bottomline due to the significant volatility in the euro- rupee exchange rates," Suzlon Energy Chief Financial Officer Robin Banerjee said.

The company's total income came down to Rs 4,494.37 crore for the December quarter compared to Rs 5,608.41 crore in the same period a year ago.

Suzlon, for nine months to December, 2010, reported a loss of Rs 1,535.02 crore against a loss of Rs 794.25 crore in the same period last year.

Banerjee added, "There has been progress on all financial parameters and we have delivered steady gross profit margins. Our debt-equity ratio has been maintained and our focus on bringing down fixed costs is delivering results."

Shares of the company closed 1.64 per cent down at Rs 48 on the Bombay Stock Exchange.

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