Suzlon, India’s wind power giant, has reported a quarterly loss after years of expansion and profit growth. It was hurt mainly by the ongoing global credit crunch, slowing wind turbine sales, and by rising costs and a provision to do repairs stemming from the widely reported quality problems at the wind-turbine manufacturer’s overseas plants.
Suzlon reported a consolidated net loss of 589.7 million rupees ($12.1 million) for the quarter ended Dec. 31, compared with a net profit of 1.52 billion rupees a year earlier.
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