The Hindu Business Line : Lanco Infratech Q3 net at Rs 52 cr

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Hyderabad Feb. 1 Lanco Infratech Ltd has recorded consolidated operational income of Rs 429.34 crore and a net profit of Rs 51.68 crore for the third quarter ended December 31, 2006, as against total income of Rs 14.96 crore and a net profit of Rs 3.62 crore for the corresponding quarter last year.

Significant increase in revenue and net was also because the company has consolidated some of the group companies during the year. They include entities in power, property development and power trading. Its subsidiaries include Lanco Kondapali, Aban Power and Lanco Electric Utility.

During the first nine months, the company's consolidated income was Rs 1,146.78 crore (Rs 51.63 crore) with a net profit of Rs 131.09 crore (Rs 8.75 crore).

Last fiscal, the company had registered a consolidated income of Rs 157.84 crore with a net profit of Rs 18.09 crore.

On a standalone basis, Lanco Infratech recorded total income of Rs 137.53 crore (Rs 13.35 crore) and a net profit of Rs 20.30 crore (Rs 0.8 crore) for the third quarter ended December 31, 2006.

The company management mentioned that its order book was at Rs 4,996 crore as of December 31, 2006. Lanco had raised Rs 1,067 crore through IPO and after making payments to Globeleq, Aban ventures etc., now has unutilised funds of Rs 609.86 crore.