Suzlon Energy shares up 10 pct as Q4 net loss narrows

PTI Posted online: Monday, Jun 02, 2014 at 0000 hrs
Mumbai : Shares of Suzlon Energy shot up by 10 per cent today following a drop in net loss for the quarter ended March 2014.

Suzlon's stock ended the day at Rs 24.15 -- its upper circuit limit, with a gain of 9.97 per cent on the BSE.

At the NSE, the wind turbine maker's scrip rallied 10 per cent to Rs 24.20.

Suzlon had on Friday reported a consolidated net loss of Rs 603.45 crore for the fourth quarter of 2013-14 against a loss of Rs 1,912.72 crore in the same period last fiscal.

Total income during the said quarter rose to Rs 6,645.05 crore, from against Rs 4,336.44 crore in the corresponding period of the previous financial year (2012-13).

"Our revenue in Q4 is the highest in the last eight quarters," Kirti Vagadia, Group Head of Finance, had said.

"On the FCCB front, the Board has approved cashless restructuring of its Foreign Currency Convertible Bonds (FCCBs) and the new restructured FCCBs will come up for maturity in July 2019," he had said.