Lanco Infratech has posted a loss of ₹306.3 crore for the first quarter ended June 30, 2014, against a loss of ₹578.88 crore for the corresponding quarter last year.
The diversified infrastructure company has logged in gross revenue of ₹2,670 crore for the first quarter, down 8 per cent over ₹2914.2 crore it registered for the same period last year.
As of June 30, 2014, the company has a total debt of ₹36,282 crore. Lanco has outstanding receivables of ₹3032.5 crore from various electricity boards and is hopeful of securing them once issues get resolved.
The performance of the power division was impacted due to inadequate gas supply for its projects, leading to low plant load factor. One of the units at Kondapalli project remained shut throughout the quarter due to lack of gas supply from KG-D6.
The EPC division revenue for the first quarter was at ₹360.7 crore, down 35 per cent against ₹551.6 crore for the corresponding quarter. While the current EPC order book was ₹29,743 crore, including power and solar projects, internal projects constitute 78 per cent of the power and construction EPC order book.
While the company has a solar power generation capacity of 41 mw, its solar EPC order book was at ₹2,909 crore with 56 per cent from external parties.
The Griffin Coal mine in Australia generated revenue of ₹156.4 crore, down 29 per cent over ₹220 crore in the same period last year.
The company has an employee strength of 3,750 and its adjusted networth is ₹3,855 crore. Lanco on Wednesday announced the sale of its Udupi power project to Adani for ₹6,000 crore.
According to the company, the approved Corporate Debt Restructure (CDR) scheme and the efforts to induct strategic investors and disposal of assets would also bring in additional cash flows.