Comments
Lanco Infratech Ltd has posted a loss of Rs 464.64 crore during the third quarter ended December 31, 2012 against a profit of Rs 60.9 crore in the corresponding quarter last year.
The company has posted lower income from operations at Rs 3,716 crore against Rs 4,596 crore.
Its performance was impacted due to delays in receivables from power utilities which have piled up to Rs 3,525 crore as of December 31, 2012, high interest rates cutting into margins and foreign exchange losses of Rs 43 crore.
Gas supply, coal-related issues
The performance of its power units was impacted due to low gas supply and coal-related issues.
Implementation of most of the company's power projects is as per schedule but fuel supply issue continues to be a matter of concern.
The gas plant expansion of 480 MW at Kondapalli in Andhra Pradesh is ready but the company is awaiting gas supply arrangement for the project.
The diversified infrastructure company now has an order book of Rs 27,600 crore including EPC contracts relating to solar projects.
During the third quarter, Lanco Infratech’s subsidiary handling the Griffin coal mine in Australia entered into a new agreement with Bluewaters Power, which the company sees as a favourable move in terms of higher returns.
The company shares were trading marginally down at Rs 11.70.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.