Suzlon plunges on results, CEO exit

Our Bureau | | Updated on: Jul 07, 2020

Shares of Suzlon Energy on Tuesday declined 5 per cent after the company posted a consolidated net loss of ₹824 crore for the March quarter. The stock dropped 4.99 per cent to ₹5.33 — its lower circuit limit — on the BSE. The consolidated net loss of the company was ₹293 crore in the quarter ended on March 31, 2019. JP Chalasani has resigned as the Group Chief Executive Officer of the company from July 7. However, he will continue with the company as a strategic advisor, it added. The net revenue of Suzlon declined 55 per cent YoY to ₹643 crore in during the fourth quarter of FY20, mainly due to low volume.

Published on July 07, 2020
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