Shares of wind turbine maker Suzlon Energy today plunged as much as 9 per cent to a record low as the company reported a standalone net loss of Rs 696.64 crore for the first quarter ended June 30, 2012.
The scrip opened weak and further lost 9 per cent to touch a record low of Rs 16.10 on the NSE. On the BSE, the shares tumbled 7.62 per cent to an all-time low of Rs 16.35.
The company had yesterday reported net loss on account of lower volumes, adverse market mix, high interest burden and notional forex losses.
In the same quarter last fiscal, the company had reported a net profit of Rs 137.83 crore.
The company’s standalone revenues also declined 59.36 per cent to Rs 596.91 crore compared with Rs 1,469.07 crore in the same quarter last year.