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This is an archive article published on June 29, 2009

Suzlon down 9% on poor FY’09 results

Suzlon plunged nearly 9 pct after the company reported a 77 pct decline in net profit.

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Shares of Suzlon Energy,the country’s largest wind turbine maker,plunged nearly 9 per cent on the Bombay Stock Exchange in early trade on Monday after the company reported a 77 per cent decline in net profit for 2008-09.

Shares of Suzlon Energy were quoted at Rs 112.85 on BSE,down by 8.51 per cent over the previous close.

On the National Stock Exchange the scrip fell by 8.62 per cent to Rs 112.85.

The company reported a decline of 77 per cent in net profit at Rs 236.48 crore for 2008-09 on the back of currency losses and replacement of defective blades.

However,consolidated revenues expanded 91 per cent to Rs 26,082 crore in FY’09 from Rs 13,679 crore in the previous fiscal.

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