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Hit by working capital challenges, wind energy major Suzlon Energy Ltd has doubled its consolidated net loss in Q4 2015 to Rs 1,212 crore versus a net loss of Rs 603 crore in the same quarter of 2014.
Total income during the quarter under review decreased to Rs 4,926 crore from Rs 6,645 crore last year, a decline of 25 per cent year-on-year.
For the year ended March 31, 2015, the net loss was higher by 150 per cent at Rs 9,158 crore against Rs 3,520 crore in fiscal 2014. Total income was marginally down at Rs 19,954 crore against Rs 20,402 crore last year.
Kirti Vagadia , Group Head of Finance, Suzlon Group, said, “Our results for FY15 were largely impacted by working capital challenges, which have now been addressed. Our business operations are now adequately funded with requisite working capital facilities to ramp up volumes.”
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