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Energy and infrastructure major Punj Lloyd’s net loss fell to Rs 232 crore in the third quarter of financial year 2017. This is 24.9 per cent lower than the Rs 309 crore net loss in the corresponding period of the previous fiscal.
According to a press release, the group’s order backlog stands at Rs 19,617 crore at December end last year. However, it is to be noted that this includes orders in Libya worth Rs 6,845 crore that according to the company’s investor presentation ‘are not seeing traction’.
The narrowing of losses can be attributed to lowered total expenses which were at Rs 1,018.46 crore in the third quarter of financial year 2017 from Rs 1,064.60 crore in the corresponding period of the previous fiscal. There is also a trimming of finance costs to Rs 224.45 crore in the third quarter of financial year 2017 from Rs 258.99 crore in same period of the previous fiscal.
In a filing to exchanges, the company’s total income from operations in the third quarter of financial year 2017 contracted to Rs 996.77 crore from Rs 1,007.84 crore in the corresponding period of the last fiscal.
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