Suzlon Energy reports biggest quarterly loss of Rs 1,913 crore

MUMBAI: Wind turbine maker Suzlon Energy reported its biggest ever quarterly loss of Rs 1,913 crore in Q4 of 2012-13 as the company paid huge interest on its debt even as sales volume plummeted.

The company reported a 36% year-on-year decline in consolidated revenue of Rs 4,280.53 crore in the quarter that ended March, as project execution continues to be slow.

"This has been an extremely difficult year for the Suzlon Group. We faced both significant internal challenges on the liability management front, and externally with a highly competitive global wind sector, and turbulent India market which shrank by almost 50%," Chairman Tulsi Tanti said.

"Despite these challenges, we secured new orders of nearly $ 4.3 billion over the year, REpower continued to outperform the sector, and we enter the new fiscal focusing 100% on execution," he said.