Stock in Suzlon Energy Ltd slipped as much as 5.4 per cent to a record low of nearly Rs 12 a share in early trade on Friday after the wind turbine maker reported a huge jump in quarterly net loss.

Suzlon on Thursday announced that its net loss widened to Rs 1,913 crore ($339.59 million) in the January-March quarter, from a net loss of Rs 300 crore in the corresponding period of the previous year.

The company's total income slipped from Rs 6,855 crore in the January-March quarter of 2012 to Rs 4,359 crore in the same quarter of this year.

The company blamed non-routine costs and cut-throat competition in the global wind sector for its poor quarterly results. It added that delays in execution also led to the annulment of a small number of orders, totaling
195 MW.

Suzlon Group Chairman Tulsi Tanti said in a statement, "This has been an extremely difficult year for the Suzlon Group. We faced both significant internal challenges. and externally with a highly competitive global wind sector and turbulent India market."

For the full fiscal year, the company posted a whopping net loss of Rs 4,723.96 crore, as compared with a net loss of Rs 478.58 crore in corresponding period of the previous year. Total income for full year slipped from Rs 21,359.21 crore to Rs 18,913.53 crore.

Suzlon, however, added that a steady intake of new orders would give it solid order coverage over the mid-term and strengthen its position in the current financial year.