Suzlon shares nosedive as losses widen

Mumbai: Shares in Suzlon Energy Ltd slumped on Friday morning, after the wind turbine maker said its quarterly net loss had widened more than four times.

Reacting to the news, Suzlon shares fell as much as 16.8% to Rs.19.75 on the Bombay Stock Exchange in early trade. At 11 am, they were down 9.3% at Rs.21.55. The 30-share benchmark Sensex was down 0.3% at 19,436.71 points.

Suzlon Group said on Thursday that its net loss has increased to Rs.1,154.53 crore in the quarter ended 31 December from a net loss of Rs.286.46 crore a year ago. Sales fell 19.58% to Rs.4,047.71 crore from Rs.5,033.45 crore.