Suzlon’s Loss Narrows After Job-Cut Program Shows Results
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Suzlon Energy Ltd., the Indian wind-turbine maker that defaulted on bonds, reported a narrower loss in the fiscal second quarter as a cost-reduction program that included 3,000 job cuts began to show results.
The net loss shrank to 7.82 billion rupees ($128 million) in the three months through September from 8.08 billion rupees a year earlier, the Pune-based company said today in an e-mailed statement. Expenses dropped 17 percent to 50.4 billion rupees.