Tanti – 'Much work to do' at Suzlon

Suzlon chairman Tulsi Tanti said there remains “much work to be done” at the Indian wind turbine giant – but insisted the company is moving in the right direction despite another hefty quarterly loss.

Suzlon posted a net loss of 10.7bn rupees ($173m) for the three months to December 2013, its financial third quarter, compared to 11.5bn at the same stage in 2012.

However, revenue for the quarter was 25% up year-on-year at just over 5bn rupees, Suzlon said. And the group booked 913MW of new orders in the quarter, adding up to 1.7GW so far this financial year, in what the group described as an “underscoring of customers’ confidence in the company”.

The consolidated group order book stood at 5.5GW at the end of the quarter, worth about $7.7bn.

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