The company had a revenue of $859 million.
Tulsi also said the company is looking to reduce manpower costs by 20% by the end of 2012, as part of 'Project Transformation', an internal programme. It applies to the whole group, including Repower.
Speaking about the results, Tanti said: "This has been a disappointing first quarter. The macroeconomic environment, policy uncertainties in some markets, along with other external factors such as the depreciating Rupee continue to impact us."
He added: "We have also made it a priority to strengthen our balance sheet significantly by de-leveraging in India. This will be a defining year for Suzlon Group, even as our sector continues to face a number of challenges. I remain cautiously optimistic that we will end the fiscal in a satisfactory position."
Last month, Suzlon has signed a $300 million loan deal to repay $360 million in foreign currency convertible bonds.
