Lanco Infra net Rs 73 cr in Q4, posts full-year loss of Rs 112 cr

Boosted by exceptional income and forex gains, Lanco Infratech Ltd recoded a consolidated net profit of Rs 72.75 crore for the fourth quarter ended March 31, 2012, against Rs 16.9 crore it registered for the corresponding quarter last year.

The revenue after elimination of inter-segment transactions was up 71 per cent at Rs 3,376.17 crore for the fourth quarter, against Rs 1,975.82 crore for the corresponding quarter last year.

The infrastructure company, however, posted a loss of Rs 112 crore for the financial year ended March 31, 2012, against a profit of Rs 446 crore. The revenue for the year was up 32 per cent at Rs 10,168.96 crore, against Rs 7,701.96 crore for the previous year.

Mr T. Adibabu, Chief Operating Officer Finance, Lanco, told

Business Line that the company's performance for the fourth quarter comes in the backdrop of tough quarters and improvement in general business environment. While the EPC and construction business contributed about 64 per cent, the power sector contributed 30 per cent of gross revenue.

The company's EPC order book has been pegged at Rs 30,700 crore. During the year, Lanco bagged its maiden overseas contract in West Asia, while taking up works for the Chennai Metro Rail Ltd and other EPC contracts including Moser Baer and Mahagenco.

Roads

The company has completed two road projects in Karnataka and is looking at offloading part of the stake in them. The idea is to unlock its value and invest in new projects, Mr Adibabu explained.

Lanco shares ended down 3.24 per cent at Rs. 12.53.