Lanco Infratech registers net loss of Rs259 crore in Q2FY12

Lanco Infratech consolidated net operating income declined 7% to Rs1,896.60 crore in September 2011 quarter

Lanco Infratech reported net loss of Rs259.48 crore in the second quarter ended 30 September 2011 against net profit of Rs70.46 crore in the corresponding quarter last year. The company’s consolidated net operating income declined 7% to Rs1,896.60 crore in September 2011 quarter, while its gross sales zoomed 28% to Rs3,270.72 crore primarily on account of impressive sales. At the operating level, Lanco earned operating profit margin of 23.8%, up by 330 bps on fall in power costs. Thus the operating profit grew by 8% to Rs450.90 crore.
In the September quarter, the company synchronised unit-II (1x600MW) of Anrapa ‘C’ in Uttar Pradesh.

In the late afternoon, Lanco Infratech was trading at around Rs12.90 per share on the Bombay Stock Exchange, 12.54% down from the previous close.

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