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Hyderabad, July 1

Prajay Engineers Syndicate Ltd, has registered a loss of Rs 11.48 crore on sales income of Rs 4.06 crore for the fourth quarter ended March 31, mainly due to poor realisations from customers. In the corresponding quarter of last fiscal, the loss was Rs 5.08 crore on a sales income of Rs 90.70 crore, the company said in a disclosure to the BSE. The company Director, Operations, Mr N. Ravinder Reddy, said Rs 306.35 crore is outstanding from the customers. The company attribu ted its performance to economic slowdown and recession in the realty sector, leading to slow realisation from customers. However, the company has made no provision in the books against bad debts, if any. “We are unable to comment on the realisation,” the statement said.

– Our Bureau

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