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Lanco Infratech Ltd has posted a huge loss of Rs 578 crore for the first quarter ended June 30, 2013 against a loss of Rs 441 crore in the corresponding period last year.
Gross revenue during the first quarter was down 28 per cent at Rs 2,914 crore against Rs 4,030 crore in the same quarter last year.
The company’s performance was impacted due to lower power generation in its gas-based and coal power plants, hurdles in project execution, higher interest outgo and foreign exchange loss of Rs 220 crore.
The company has gross debt of Rs 35,394 crore. It has also piled up receivables of Rs 3,285 crore from state electricity boards.
>rishikumar.vundi@thehindu.co.in
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