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Lanco Infratech has posted a ₹529.68-crore loss for the third quarter ended December 31, 2013, thereby, widening it from ₹465 crore it logged during corresponding period last year.
The total income from operations for the third quarter was down 31 per cent at ₹2,588 crore (₹3,754 crore). The power business income has registered a steep 32 per cent drop at ₹1,734 crore against ₹2,534 crore. This along with the EPC division dragged down the overall performance .
Lanco stated it has receivables of ₹2,765.76 crore from various state electricity utilities and customers towards the sale of power. It posted a forex loss of ₹79 crore.
The board has decided to increase the authorised share capital from ₹500 crore to ₹12,000 crore.
Greenko Group has signed with Lanco to buyout its 70 MW Budhil hydel power project and 5 MW hydel project in Kangra.
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