Lanco Infratech reports net loss of Rs 813-cr in Oct-Dec
The Dollar Business Bureau
Lanco Infratech on Tuesday reported a net loss of Rs.813.66 crore during October-December 2016-17, dragged down by a decline in its operational income.
The company had registered a net profit of Rs.35.48 crore during the same period in 2015-16.
Lanco Infratech announced in a BSE filing that the company’s total operational income slumped to Rs.1,740.31 crore during the third quarter of the current financial year, from Rs.2,168.48 crore during a year ago period.
Lanco Infratech has operations across five sectors: engineering procurement and construction (EPC), infrastructure and property development, natural resources, power and solar.
The company’s power (66%) and EPC (12%) sectors together contribute to 78% of its gross revenues. Its total outstanding receivables were Rs.1,396.70 crore from several state electric utilities till December last year.
Its current order book is at Rs.22,307.30 crore (minus solar EPC) and its internal projects comprise of 83% of power and construction EPC orders.
The company’s solar operations consisted of EPC(of Rs.3,482.2 crore with 58% from external entities), electric generation (46MW per annum capacity), and O&M (Operations and Maintenance) for photovoltic module manufacturing and solar power plants (175 MW per annum capacity).
It traded 272 million units of electricity for an average realisation rate at Rs.3.04 per unit.