Suzlon energy posts loss in third quarter

Mumbai, Jan 30: Suzlon Energy Ltd, wind turbine maker, has posted a loss in third quarter due to forex losses and charges on quality issues. the company was of the opinion that the growth is expected only from 2010. Total income rose to 68.93 billion rupees from 31.7 billion rupees.

The company's consolidated net loss, including subsidiaries Hansen Transmission and REpower, stood at 589.7 million rupees ($12 million), compared with a profit of1.52 billion rupees a year ago.

"The long-term fundamentals of the wind industry remains strong. We see an upswing in the industry's growth from 2010. We expect the new US administration to provide a strong boost for renewables," Chairman Tulsi Tanti said in a statement.

The company's order book, excluding Hansen and REpower, stands at 103.9 billion rupees as on date, the company said in a separate statement to the stock exchange.

OneIndia News (With inputs from Agencies)