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Lanco Infratech Ltd has posted a loss of ₹200.71 crore for the fourth quarter ended March 31, 2016, against a loss of ₹586.29 crore for the corresponding quarter last year.
Turnover for the quarter was ₹2559.89 crore against ₹2276.89 crore for the corresponding quarter last year.
The company has managed to bring down its loss to ₹265.60 crore for the financial year ended March 31, 2016, against a loss of ₹2036.74 crore for the previous year.
The income for the year was up at ₹9762.90 crore against ₹9542.58 crore for the previous year.
T Adibabu, Chief Operating Officer, Finance, told BusinessLine that “A number of issues relating to fuel and tariff for power projects have been sorted out, and the funding for ongoing projects is also likely to get better. This will enable the company to run power plants and also help expedite EPC works this year.”
On stake sale talks which the company has been engaged in, Adibabu said, “We are in talks with several potential investors and companies, over the past 24-30 months. The macro economic conditions are just beginning to get better for infra companies. This will enable us to strike couple of deals.”
“We have a strong order book of EPC works of ₹27,079 crore, of which 75 per cent are that of the company. Once we have good cash flows and lenders continue to extend their support, we will be able to boost the EPC business as well,” he said. The board of directors approved the re-appointment of G Venkatesh Babu as MD.
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