Home India Lanco Infratech posts Rs 813-cr net loss in Oct-Dec qtr
Lanco Infratech posts Rs 813-cr net loss in Oct-Dec qtr

Lanco Infratech posts Rs 813-cr net loss in Oct-Dec qtr

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Lanco Infratech today reported a consolidated net loss of Rs 813.66 crore in the quarter ended on December 31, 2016, mainly due to decline in income. The company had reported a net profit of Rs 35.48 crore in the quarter ended December 31, 2015, Lanco Infratech said in a BSE filing.

According to statement, its total income from operations declined to Rs 1,740.31 crore in third quarter of this fiscal, from Rs 2,168.48 crore in the same period a year ago. Lanco Infratech is present in five sectors including EPC, power, solar, natural resources and infrastructure and property development. It said that the EPC (Engineering Procurement and Construction) (12percent) and power (66percent) sectors together contributed to 78 percent of the gross revenues.

The company said that its total outstanding receivables are Rs 1,396.7 crore from various state electric utilities as of December 2016. The company traded 272 million units of electricity on an average realisation rate of Rs 3.04 per unit (power trading). Its current order book stands at Rs 22,307.3 crore (excluding solar EPC). The internal projects constitute 83 per cent of the power and construction EPC order book. Its solar operations include EPC (order book of Rs 3,482.2 crore with 58 per cent from external parties), generation (46MW), O&M for solar power plants, photovoltic module manufacturing (175 MW per annum capacity).

Source:PTI
Anand Gupta Editor - EQ Int'l Media Network

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