Lanco Infratech slips into Rs 464 crore quarterly loss

Lanco Infratech slips into Rs 464 crore quarterly loss

BT Online Bureau   Mumbai     Last Updated: February 13, 2013  | 00:00 IST

Lanco Infratech has reported a net loss of Rs 464.64 crore in the three months ended December 2012. The company had a net profit of Rs 60.92 crore in the year-ago period.

The company has interests in power, infrastructure and realty, among others.

In the latest December quarter, Lanco Infratech's reported net operating income of Rs 3,488.70 crore, compared to Rs 3,029.31 crore in the same period a year ago.

"The reported consolidated net operating income and net profit have been arrived at after eliminating inter-company transactions," Lanco Infratech said in a filing to the Bombay Stock Exchange.

"As at December 31, 2012, the group has receivables from various state electricity utility companies and other customers against the sale of power aggregating to Rs 3,525.22 crore, net current liabilities of Rs 2,345.82 crore and current maturities of long-term borrowings Rs 2,680.59 crore," it said.

Citing internal assessment and various discussions with customers, Lanco Infratech said the management is confident of recovery of receivables.

Shares of Lanco Infratech were trading 0.91 per cent lower at Rs 11.97 in late morning trade on the Bombay Stock Exchange.

With inputs from PTI

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