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Lanco Infratech Limited has posted a loss of ₹527.48 crore for the second quarter ended September 30 against a loss of ₹581.08 crore for the corresponding quarter last year.
The diversified infrastructure company registered a lower income of ₹2,403.87 crore for the second quarter against ₹2,495.75 crore for the corresponding period last year.
Forex hitThe company had to take a forex loss of ₹190.5 crore ( ₹151.1 crore). For the financial year ended March 31, the company posted a loss of ₹2,273 crore and income of ₹10,707.45 crore. During the quarter, Lanco entered into an agreement to sell its 1,200-MW Udupi power project located at Mangalore in Karnataka to Adani Power Limited. Lanco has indicated its intent to divest three more thermal power projects to bring down its debt burden. According to the company, it has a debt burden of ₹36,696.5 crore and has outstanding receivables of ₹2,465.9 crore from various utilities.
The company has an EPC order book of ₹29,312 crore, including those in the thermal power and solar power. Of this, internal projects constitute 79 per cent of the construction EPC order book. Lanco has a solar EPC order book of ₹2,918.4 crore, with 56 per cent of the orders from external parties.
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