Suzlon Energy tanks 16% after reporting disappointing Q3 numbers

NEW DELHI: Suzlon Energy Ltd slipped over 16 per cent in opening trade on Friday after the company reported its biggest quarterly loss of Rs 1,154 crore in December quarter.

The company's profits were impacted by heavy interest burden on its huge debt and contracting sales volume.

At 09:40 am, Suzlon Energy pared some of its losses and was trading 11.16 per cent lower at Rs 21.10. It has hit a low of Rs 19.75 and a high of Rs 21.920 in trade today.

Revenue in the third quarter of 2012-13 declined an annual 3.5 per cent to Rs 4,014 crore. The company, which has piled up Rs 14,000 crore in debt - almost twice its equity base, has reported losses for the past three years.