Suzlon shares tank over 8% after Q3 results
Mumbai: Shares of wind turbine maker Suzlon Energy on Friday fell sharply by over 8 percent after the company's consolidated loss widened to Rs 1,154.53 crore in the October-December quarter.
After plunging nearly 17 percent during the day, shares of the company finally ended at Rs 21.70, down 8.63 percent from its previous close on the BSE.
At NSE, the stock settled 8.63 percent lower at Rs 21.70.
Following the steep fall in its share price, the market value of Suzlon got eroded by Rs 365 crore to Rs 3,856 crore.
The world's fifth largest wind energy player in terms of installed capacity had reported a net loss of Rs 286.46 crore in the corresponding period last fiscal.
Revenues contracted to Rs 4,013.66 crore during third quarter from Rs 4,985.79 crore a year ago, down 19.5 percent.
In the broader market, the BSE barometer index Sensex ended at 19,468.15, down 29.03 points.