Punj Lloyd Q3 net loss at Rs62.13 crore; scrip touches 52-week low

"There has been a good inflow of orders during the last six months and the current order backlog of the company is at Rs 27,780 crore," said Punj Lloyd chairman Atul Punj

MUMBAI: Engineering firm Punj Lloyd today reported a net loss of Rs62.13 crore for the quarter ended 31 December 2010 against a net profit of Rs12.48 crore in the October-December quarter of the last fiscal, the company said in a filing to the Bombay Stock Exchange.

Net sales of the company fell to Rs2,093.62 crore in the December quarter from Rs2,901.62 crore in the year-ago period, a decline of 28%, reports PTI.

"There has been a good inflow of orders during the last six months and the current order backlog of the company is at Rs27,780 crore. We expect the momentum of order inflows in energy and infrastructure sectors to continue," Punj Lloyd chairman Atul Punj said.

Overall, the company received new orders worth Rs9,238 crore in the current financial year to 31st December.

During the December quarter, Punj Lloyd signed a memorandum of understanding with Hopetech Sdn Bhd, Malaysia to offer integrated solutions for automated electronic toll collection and a central toll clearing house in India.

Reacting to the weak third quarter numbers, shares of Punj Lloyd slipped to a 52-week low of Rs 81.25 in early trade on the BSE.

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