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Suzlon Energy on Monday posted a consolidated net loss of ₹834.22 crore for the March quarter mainly due to lower revenues and high finance cost.
The consolidated net loss of the company was ₹294.64 crore in the quarter ended on March 31, 2019, a regulatory filing said.
Total income from operations of the company declined to ₹658.89 crore in the quarter from ₹1,450.47 crore in the year-ago quarter.
The consolidated net loss of the company in 2019-20 was ₹2,691.84 crore as against ₹1,537.19 crore in 2018-19.
Total income from operations in 2019-20 dropped to ₹3,000.42 crore from ₹5,074.64 crore in 2018-19.
The group continued to incur losses in 2019-20 primarily due to lower volumes, high finance cost and provisions for impairment, the company said.
The negative net worth of the group is ₹11,042 crore as on March 31, 2020.
The board in its meeting approved resignation of Group Chief Executive Officer J P Chalasani, the filing said.
The company said that J P Chalasani has resigned as the Group Chief Executive Officer of the Company with effect from July 7, 2020.
However, it said that he will continue with the company as a Strategic Advisor.
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