Suzlon Energy reports widening of net loss to Rs 777 cr in Q2

Suzlon Energy on Thursday reported widening of its consolidated net loss to Rs 777.52 crore in the quarter ended September 30, 2019. The company had reported a net loss of Rs 625.76 crore in the corresponding quarter last fiscal, Suzlon Energy said in a BSE filing.

Its revenue from operations fell to Rs 803.09 crore during the quarter under review as against Rs 1,194.99 crore in the year-ago period.

The company’s total expenses were at Rs 1,551.16 crore as against Rs 1,850.28 crore in the same period of preceding fiscal.

“The sector is witnessing issues on project execution due to some policy issues but there has been some healthy growth in installations over the last year. Wind capacities added in India in H1 2019-20 was at 1,304 MW as compared to 569 MW in H1 2018-19,” Suzlon Group CEO J P Chalasani said in a separate statement.

“Our operations are at a subdued level with minimal allocation of funding as we are trying to fix our capital structure,” he added.

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