Lanco Infratech Ltd has posted a lower net profit at Rs 60.92 crore for the third quarter ended December 31, 2011, against Rs 164.02 crore for the corresponding period last year.
This reflects a decline of 62.9 per cent. However, the Rs 164.02 crore includes other incomes.
The company income was up 50 per cent at Rs 4,620.6 crore for the third quarter (Rs 3,085.5 crore).
The reported consolidated cash profit for the third quarter before elimination was up 23 per cent at Rs 467.81 crore (Rs 379.50 crore).
Mr Philip Chacko, Director, Investor Relations, Lanco Infratech, told Business Line that the company expects significant cash flows coming through by June 2012 from additional an 1,800-MW of power generation and also from two toll ways in Karnataka.
Of the 1,800 MW, 1,200 MW will be from Anpara and the rest from the second unit of Udupi. The line for evacuation of power from Udupi has been sanctioned and would be ready within four months.
He said cash flow will reduce debt.
The company is considering the option of divesting licences to develop 3,000 MW of wind power generation in Southern States of Tamil Nadu, Karnataka and Maharashtra. “We are talking to advisors to exit these licences to focus on solar energy generation as a developer and also as an EPC player,” he said.
The company shares closed the day's trade up 16.77 per cent at Rs 18.80.