Lanco Infratech reported a net loss of R441 crore in the April-June quarter despite an 87% jump in revenue. The diversified infrastructure company has attributed the drop in bottomline to factors like forex loss and generation loss at some of its power plants due to fuel shortage.
Lower revenue realisation from sale of coal from the Griffin mining project in Australia did not help the matter either. The company had reported a profit after tax (PAT) of R13.8 crore during the same period of the previous year.
Lanco Infra has significant presence in businesses like power generation, power trading, coal mining and EPC, road, highway and property development.
The company?s cash profit also fell from R283 crore to R106 crore during the April-June quarter. The company has reported a forex loss of R230 crore due to depreciation of the Indian rupee.
Lanco?s Anpara C power plant in Uttar Pradesh had to operate below optimum capacity due to fuel shortage during the period. Meanwhile, revenue realisation from Lanco?s acquired Griffin coal mining project in Australia was 10% lower from the same period of the previous year. However, Lanco hopes things will look up for it in coming quarters.
