Suzlon Energy trips as Q1 net loss widens
Suzlon Energy plunged 5.93% to Rs 53.10 at 9:35 IST on BSE, after the company reported higher consolidated net loss of Rs 912.22 crore for Q1 June 2010, much higher than a net loss of Rs 452.67 crore for Q1 June 2009.
Meanwhile, the BSE Sensex was down 13.49 points, or 0.07% at 18,153.54.
On BSE, 22.24 lakh shares were traded in the counter as against an average daily volume of 37.65 lakh shares in the past one quarter.
The stock hit a high of Rs 55.90 so far during the day. The stock hit a low of Rs 51.20 so far during the day, which is a 52-week low for the counter. The stock had hit a 52-week high of Rs 107.15 on 8 September 2009.
The large-cap stock had underperformed the market over the past one month till 13 August 2010, falling 8.29% as compared to the Sensex’s return of 1.01%. It had also underperformed the market in the past one quarter, declining 17.37% as compared to the Sensex’s return of 5.22%.
The company has an equity capital of Rs 349.08 crore. Face value per share is Rs 2.
Consolidated net sales slumped 42.2% to Rs 2398.65 crore in Q1 June 2010 over Q1 June 2009. The company declared its results after market hours on Friday, 13 August 2010.
Suzlon Energy Group order book was about $4.9 billion or more than Rs 22,700 crore, which is 1.09 times its sales of Rs 20779.21 crore 20619.66 crore for the year ended March 2010, giving strong revenue visibility. The Suzlon Wind (excluding REpower) order book stood at Rs 7,938 crore (1,458 MW), as on 11 August 2010. The REpower order book stood at 2.42 billion euros as on 30 June 2010.