Lanco Infratech Q1 profit tumbles 93%

Diversified group Lanco Infratech reported a 93 per cent decline in profit after tax at Rs 13.8 crore for three months ended June.

In the comparable period, the entity had registered a profit of Rs 194.7 crore.

The group 's revenues in the first quarter of the current fiscal stood at Rs 196.91 crore as compared to Rs 213.59 crore in the year-ago period, it said in a regulatory filing.

The figures are on a consolidated basis.

"Profit after tax before adjustment for profit on transaction with subsidiaries and associates, stood at Rs 2,350 million (Rs 235 crore) in Q1 FY 12," it said.

In terms of segments, power business saw its revenue fall 25 per cent to Rs 107.70 crore in the 2011 June quarter. This was mainly on account of "lower revenue in power trading and lower realisation in merchant capacities," the filing noted.

Lanco Infratech has interests in EPC, power, resources, solar and infrastructure areas. The company has an installed power generation capacity of 3,292 MW.