Suzlon reports consolidated net loss at Rs 808 cr in Q2

Wind turbine supplier Suzlon Energy has posted a consolidated net loss of Rs 808 crore in the July-September quarter of FY13 as against profit of Rs 48 crore in the corresponding quarter of last fiscal.

Consolidated income from operations increased 11 percent to Rs 5,702 crore from Rs 5,131 crore during the same period.

Forex loss for the quarter was Rs 24.4 crore as against loss of Rs 83.5 crore in a year ago period.

Suzlon has defaulted in repayment of Rs 1,102.7 crore for FCCBs due. It has been in talks with FCCB holders on various solutions on dues settlements.

In the last week of October, the Suzlon Group has initiated discussions with its senior secured lenders and plans to restructure its debt with a maturity period of ten years under the CDR mechanism, including a two-year moratorium on principal and interest payments on term-debt.

"This is an important step towards stabilizing our business by enhancing liquidity and injecting additional working capital. We believe this will help us to safeguard the interests of our key stakeholders, including customers and vendors," the company said.

The stock fell 0.64 percent to close at Rs 15.50 on the Bombay Stock Exchange.

Anda sedang membaca artikel tentang

Suzlon reports consolidated net loss at Rs 808 cr in Q2

Dengan url

http://harmonisem.blogspot.com/2012/11/suzlon-reports-consolidated-net-loss-at.html

Harmonis Hubungan