Wind turbine maker Suzlon today reported a widening of consolidated net loss at Rs 6,538.68 crore for the third quarter ended December 31, 2014 on the back of sale of its overseas subsidiary Senvion.

The company had reported a loss of Rs 1,075.25 crore in the corresponding period a year ago.

Its total income declined marginally to Rs 4,977.18 crore during the October-December quarter against Rs 5,052.2 crore in the third quarter of FY14.

“The huge loss during the quarter is on account of the notional loss to the extent of around Rs 6,000 crore on the sale of our overseas subsidiary Senvion last month,” the company’s Chairman Tulsi Tanti told PTI here today.

Last month, the company had sold Senvion to Centrebridge Partners LP for Rs 7,200 crore as part of its strategy to hive off non-core businesses and reduce the debt burden of over Rs 17,000 crore.

“Most of the proceeds of this deal will be used to pay off our debt. Besides, we are also looking at selling stake in SE Forge, another non-core business,” he said.

However, he did not disclose further details on how much the company is expecting from the sale of subsidiary.

“It is too premature to talk about this. But we will be using the funds raised through the sale for repaying our debt,” Tanti said.

The company has also sold stake in its manufacturing capacity in China as well as in US-based Big Sky wind farm.

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