Lanco posts Q2 net loss of Rs 258.31 cr

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Lanco posts Q2 net loss of Rs 258.31 cr

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Lanco Infratech today reported a consolidated net loss of Rs 258.31 crore for the quarter ended September 30, 2016. The company had clocked a net profit of Rs 117.05 crore in the year-ago period, it said in a BSE filing.

Total consolidated income of the firm fell by 25 per cent to Rs 2,016.82 crore in the July-September quarter this fiscal from Rs 2,701.93 crore during the same quarter in 2015-16. The company’s total expenses were higher at Rs 1,776.28 crore from Rs 1,687.03 crore earlier. In the April-June quarter, the company had reported a consolidated net loss of Rs 448.88 crore against a net loss of Rs 316.52 crore in the corresponding quarter of previous fiscal.

Total income during the June quarter increased to Rs 1,940.35 crore, over Rs 1,638.14 crore in the year-ago period, it had said. Lanco is present in five sectors — power, solar, natural resources, infrastructure and property development.