Suzlon loss narrows down

Suzlon Energy Ltd on Friday reported a consolidated loss of Rs 181 crore for the quarter ended September, as compared to a net loss of Rs 656 crore a year ago.

The consolidated financial results for the quarter and half year ended September are not comparable with the prior period, the company said.

The consolidated total income increased to Rs 5,392 crore for the quarter from Rs 1,796.4 crore a year ago.

On January 22, AE Rotor Holding BV, a step-down wholly-owned subsidiary of the company, and its subsidiaries signed a binding agreement with Centerbridge Partners LP, US, to sell 100 per cent stake in Senvion SE.

The deal, which was subject to customary conditions, concluded on April 29, 2015 and therefore consolidated financial results of Senvion SE and its subsidiaries for the month of April 2015 have been considered for consolidation.

Accordingly, the consolidated financial results for the quarter and half year ended September 30, 2015 are not comparable with the prior period, it said.

As per the statement, the consolidated total income of the company increased to Rs 5,391.76 crore for the quarter under review from Rs 1,796.39 crore in the year-ago period.