Business Daily from THE HINDU group of publications
Sunday, Nov 02, 2008
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Business Daily from THE HINDU group of publications Sunday, Nov 02, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate Results
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Infrastructure Forex loss drags Lanco Infra net down 8% at Rs 51 cr Our Bureau Hyderabad, Nov. 1 Profit after tax for Lanco Infratech Ltd was lower by about 8 per cent at Rs 51.6 crore during the second-quarter ended September 30, 2008 against Rs 56.3 crore registered during the corresponding quarter last year. The company profitability was hit due to forex loss (Rs 14 crore), Mr Suresh Kumar, Chief Financial Officer of Lanco, told Business Line. “In fact, if we had not taken the notional forex hit, our profitability would have been significantly higher from what is now,” he said. The company’s profitability before notional forex loss and inter-segment profit on transaction with subsidiaries and associates increased by 43 per cent from Rs 60.8 crore to Rs 87 crore. The company revenue for the second-quarter was higher by over 100 per cent at Rs 1,290.6 crore up from Rs 622.5 crore for the corresponding quarter last year. Business outlookAbout the company’s business outlook, the Lanco management said that by the end of the current fiscal, the operational power generation capacity will increase by 30 per cent to over 800 MW. The first unit of Amakantak, which was expected to start operating in October, is likely to be commissioned shortly. While small hydel projects are expected to start commissioning from next quarter, the construction activities at Udupi, Kondapalli and Anpara are on schedule, the company stated. More Stories on : Infrastructure | Forex
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