Suzlon's poor Q1 show takes toll on shares

3 Aug 2009, 1248 hrs IST, ET Bureau
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MUMBAI: Shares of Suzlon Energy were under severe pressure after the wind turbine maker nosedived into losses in the first quarter of

FY2009-10.

The company reported a net loss of Rs 452.67 crore for the first quarter ended June 30 due to lower sales volumes as compared to a profit Rs 9.3 crore in the same period last
fiscal.

Total income stood at Rs 4,171.35 crore during the reporting quarter, against Rs 3,126.97 crore in the same quarter a year-ago.

On a stand-alone basis, the company posted a net loss of Rs 160.47 crore for the quarter ended June 30. It had a net profit of Rs 88.04 crore in the same period last year.

At 12:40 pm, the stock was trading at Rs 94.40, down 5.36 per cent easing its losses from a low of Rs 90.75 in early trade.