Tanti-owned Suzlon Energy, a leading manufacturer of wind turbines, could not performed well in quarter fourth, posting a net loss of Rs 183 crore for the quarter ended March 31, 2009, as compared to net profit of Rs 482 crore in the same period last year. Its income from operations stood at Rs 2,037 crore from Rs 2,744 crore, reporting a decline of about 25 per cent.

The firm suffered huge losses on account of foreign exchange losses and the additional expense incurred in replacing faulty blades supplied to the US. It reported foreign currency convertible bond loss of Rs 303 crore and rotor blade retrofitting costs of Rs 103 crore during the fourth quarter.

Suzlon’s net loss for 2008-09 stood at Rs 469 crore, while income from operations increased to Rs 7,235 crore from Rs 6,926 crore in 2007-08.

Mr Sumant Sinha, Chief Operating Officer, Suzlon Energy, said: “Despite a challenging period, we registered a strong topline growth in 2008-09, with sales growing to Rs 26,082 crore. While there is an industry slowdown in the immediate-term, we see a rebound in calendar year 2010 with long-term drivers gaining momentum.” The company expects increase in profit for the current financial year as there are no more provisions pending in the blade retrofit program.

Mr. Sinha said that the company is working out transaction for the sale of some or entire stakes in Belgium-based gearbox manufacturer, Hansen Transmission, and the public will be informed when the development takes place.