Suzlon Energy shares gained over 11 per cent on Monday after the wind turbine manufacturer reported a profit in the first quarter.
Suzlon Energy’s consolidated losses widened to Rs 1,212.06 crore during the March quarter due to a fall in income and provision for impairment of goodwill following sale of its German subsidiary Senvion.
The scrip closed 11.64 per cent higher at Rs 24.45 on the BSE. On NSE, the shares jumped 11.42 per cent to Rs 24.40.
Analysts said the Q1 financials improved on debt repayment and better execution. Falling interest cost, healthy order book and improving ratios imply turnaround is near, analysts added.
With Reuters inputs