Lanco Infratech Ltd has posted a loss of Rs 300.30 crore for the first quarter ended June 30, 2015 against a loss of Rs 306 crore in the corresponding quarter last year.
The diversified infrastructure company's gross revenue declined 17 per cent during the first quarter to Rs 1,514.70 crore from Rs 1,860.90 crore (without Udupi project) and Rs 2,604.50 crore (with Udupi) in the same period last fiscal.
According to the company, the performance was affected due to inadequate gas supply for its power plants leading to lower power generation, and lower pace of implementation of projects under the EPC business.
However, the company said that it has restarted EPC works in the Group’s stranded under construction projects. During the quarter, Lanco had divested 100 per cent stake in Udupi Power Corporation in April 2015.
The company's solar EPC order book stood at Rs 3,076 crore, with 58 per cent orders from external parties.
Coal production at Griffin mine in Australia was lower at 0.49 million tonnes against 0.61 mt and the realisation was also low at A$41 per tonne versus A$45 per tonne.
Lanco had also started power generation at Lanco Kondapalli Power Ltd phase II of 366 MW from June 9, 2015 under the gas pooling mechanism.
The company said it has a total debt of Rs 35,356 crore and an order book of Rs 25,082 crore. Its net worth was at Rs 2,154 crore as of June end and it has an employee strength of 3,195.
Lanco shares were trading at Rs 3.35, up 2.45 per cent on the BSE.