Suzlon stock falls 6% after Q1 net loss

Shares of Suzlon Energy fell 6% on the NSE after the company reported poor Q1FY19 numbers. The company has reported a net loss of Rs575.1cr in Q1FY19. vs. a net profit of Rs47.8cr in Q1FY18. The company’s consolidated sales (including other operating income) in the period dropped 50.5% yoy to Rs1,277.5cr from Rs2,581.9cr in Q1FY18. Its operating expenses have increased 24% yoy despite a decline in sales led by foreign exchange loss of Rs253.6cr in Q1FY19 vs. Rs42.4cr in Q1FY18. The company said that FY19 may not see huge commissioning volumes as the transition period to the new bidding regime has been prolonged and project execution time has increased from nine to 18 months. This has caused a temporary delay in realizations. Suzlon Energy Ltd is currently trading at Rs7.44, down Rs0.45, or 5.7%, from its previous close of Rs7.89 on the BSE.

To Get Free Trial 
Missed call @ 9582541010 
Call Us @ 8822117117 
Mail Us = starindiamarket@gmail.com 
Visit = http://www.starindiaresearch.com/freetrail.php