Turbine manufacturer Suzlon said the “prolonged transition” to competitive auctions in India is continuing to impact the industry and the company’s performance.
Suzlon reported revenue of Rs3557 crores (€430m) in the first nine months of the 2018-2019 financial year, down from Rs5909 crores in the same period of the previous year.
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It made a loss after tax of Rs1237 crores, compared with a profit of almost Rs95 crores in 2017-2018.
Suzlon chief financial officer Kirti Vagadia said: “The prolonged transition phase continues to impact the industry at large and also our Q3 FY19 performance.”