Suzlon Energy share price continues to drop for second day, falls 5% on weak Q1 results
Suzlon Energy share price extended its fall into the second day, opening lower by 5% and hit a lower circuit. The Suzlon Energy shares have been weak since yesterday when it declared a sharp decline of 96 percent in consolidated net profit at ₹101 crore for the June quarter, compared to ₹2,433.33 crore in the corresponding period last year.
The renewable company's revenue from operations in the first quarter of current fiscal came in at ₹1,347.52 crore, registering a decline of two percent, compared to ₹1,377.58 crore in the year-ago period. "With the fruition of our initiatives to strengthen the balance sheet and reduce debt our focus is now on ramping up our operations to service our cumulative orders which stand at a healthy 1,582 MW as on date,'' said JP Chalasani, Chief Executive Officer, Suzlon Group.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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