Suzlon shares tank 10% on poor Q4 earnings

MUMBAI: Shares of wind turbine maker Suzlon Energy today plunged to the all-time low level before closing sharply down by nearly 10 per cent as company's loss widened in the January-March quarter.

Suzlon ended 9.89 per cent down at Rs 11.75 on BSE. In intra-day trade, the stock slumped nearly 10 per cent to its all-time low of Rs 11.74.

On the National Stock Exchange, the stock nosedived 9.96 per cent to Rs 11.75.

Market capitalisation of the company fell by Rs 270 crore to Rs 2,457 crore.

Suzlon's net loss for the quarter ended March 31 has widened to Rs 1,912.72 crore compared to Rs 300.24 crore in the same quarter a year ago due to non-routine costs and highly competitive global wind sector.

"This has been a very disappointing quarter. We faced both significant internal challenges on the liability management front, and externally with a highly competitive global wind sector," company's Group Head of Finance Kirti Vagadia had said.

In the broader market, the BSE benchmark Sensex ended with a loss of 455.10 points at 19,760.30.