Suzlon Reports Record Loss as Debt Burden Stalls Business
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Suzlon Energy Ltd., the wind-turbine maker behind India’s biggest convertible-bond default, reported a record quarterly loss as the business stalled under mounting debts.
The group’s net loss widened sixfold to 19.1 billion rupees ($338 million) in the fiscal fourth quarter ended March 31, the company said in an e-mailed statement today. It posted its fourth straight yearly loss of 47 billion rupees.