EnergyWatch

Suzlon closes financial year with deficit and sees better prices ahead

Indian wind turbine manufacturer Suzlon closed the financial year with a huge decline on the top line, prompting a deficit on the bottom line, but the company has said it is positive about the future – partly because prices seem to have reached the bottom this time.

Photo: Suzlon

Suzlon booked an INR 4.69 billion deficit (EUR 59 million) in the fourth quarter which ran until the end of March against an INR 5.98 billion deficit in the year prior, shows the report which was published Wednesday afternoon.

The deficit is partly attributed to revenue decline to INR 22.6 billion from INR 50.23 billion in the same quarter the year prior. Suzlon shares fell 3.7 percent after the report.

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