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IL&FS Engineering and Construction Company Ltd has posted a loss of Rs 15.79 crore for the second quarter ended September 30, 2012, as against a loss of Rs 37.62 crore for the corresponding period last year.
Income from operations was up at Rs 266.04 crore for the second quarter as against Rs 254.16 crore for the same period last year.
The Hyderabad-based infra company also announced its consolidated numbers for the 18 months period ended September 30, 2012 wherein it closed with a loss of Rs 156.64 crore and a revenue of Rs 2,204.44 crore.
The board of directors recommended a dividend of 6 per cent for preference shareholders for the financial years 2010-2011 and 2011-2012 on pro-rata basis for the time preference shares were outstanding during respective years.
The management had extended the financial year to 18 months to enable them to finalise the scheme of arrangement of capital restructure.
The company has allotted equity shares pursuant to conversion of optionally convertible redeemable preferential shares in line with the terms of corporate debt restructure scheme.
The auditors have qualified couple of provisions made by the company. These include inter-corporate deposits made to Satyam Computers Services Ltd and deposits, now subject of court cases.
The shares of the company (erstwhile Maytas Infra) closed the day at Rs 55.40, down 3.82 per cent.
rishikumar.vundi@thehindu.co.in
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