Suzlon to start cost-cutting, says first quarter 'disappointing'

Suzlon chairman Tulsi Tanti

Indian wind turbine manufacturer Suzlon is to start a cost-cutting drive and says it had a “disappointing” financial first quarter.

Suzlon reported revenues of 47.47bn rupees ($859m) for its fiscal 2012/13 first quarter, 10% higher than in the April to June period in 2011.

But the company made an operating loss of 4.35bn rupees, compared to an operating profit of 4.11bn rupees in the same period a year earlier. It made a net loss of 8.49bn rupees, against a profit of 600m rupees in the 2011 equivalent.

Suzlon chairman Tulsi Tanti described the quarter as “disappointing".

“The macroeconomic environment, policy uncertainties in some markets, along with other external factors such as the depreciating rupee…

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