IL&FS Engineering Services Limited has posted a profit of Rs 3.09 crore for the quarter ended June 30, 2013 as against a loss of Rs 34.23 crore for the corresponding quarter last year.
The income from operations was up at Rs 484.52 crore for the current quarter as against Rs 350.59 crore for the sam perioof last year.
For the 18 months period ended September 30, 2012, the company had closed with a loss of Rs 135.31 crore and income of Rs 2,042.56 crore. The company had extended the accounting year.
The construction company (formerly Maytas Infra Limited), now part of the IL&FS, is in the process of pursuing the recovery of the inter-corporate deposits, including Rs 324 crore, which Maytas had extended to Satyam Computer Services Limited.
The company board has informed that S. S. Ranjan, retired deputy managing director of State Bank of India, has been appointed as the Nominee Director on the Board of Directors on behalf of the Consortium of Lenders of the Company.
The shares of IL&FS Engineering closed at Rs 21.85, up 9.80 per cent on the BSE.
In the observations, the auditors of the company, S.R.Batliboi & Associates LLP, have qualified certain aspects of accounting, including passing its observations on ICDs. These observations are being carried forward.