The once high-flying stock of Suzlon Energy Ltd. (532667.BY) fell to a record low of 16.35 rupees Tuesday morning, following a third straight quarterly loss reported late Monday.

The wind turbine maker lost a net 8.5 billion rupees ($152 million) between April and June, versus a profit of 601 million rupees a year earlier.

"We are not sure whether the company will be able to turn around their operations fast enough because of a global slowdown," said an analyst at a Mumbai brokerage firm.

A large portion of Suzlon's wind turbine equipment is bought by consumers in North America and Europe , but orders have lately fallen because of slow growth in those countries.

Suzlon has lately also been hurting because of high interest costs for debt it took a few years ago to fund ambitious growth plans.

Last month, Suzlon repaid foreign currency convertible bonds worth $360 million. It has another $209 million due on such bonds in October.

Monday, Suzlon announced plans to trim costs by 20% in the fiscal year through March 2013 as it seeks to cut its huge debt and meet earnings guidance.

Suzlon's stock is down 58% for the past one year. In comparison, the Bombay stock Exchange's benchmark 30-share Sensex has risen 4.5% over the same period.
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