Results : Lanco profit dips 13% to R191 crore
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Lanco profit dips 13% to R191 crore
Lanco Infratech has reported a13% growth in its cash profit for the financial year 2011-12 on higher revenue. However, its cash profit dropped 13% in the January-March 2012 quarter on higher EPC and construction costs.
The company's cash profit for the quarter under review is R191 crore, compared to R214 crore in the same quarter of the previous year. This despite a 71% growth in revenue during the period. "The drop in cash profit is due to higher costs incurred in EPC and construction," said T Adibabu, chief operating officer, Lanco Infratech.
The company's cash profit for the full financial year of 2011-12 works out to R1,378 crore. The company's revenue during the period grew 32% to R10,169 crore. Lanco's newly commissioned projects at places like Anapara C and Udupi are expected to achieve full capacity utilisation in coming months, which would boost the company's revenue and jack up profits.
GMR Infra posts R366-cr loss in Q4
Bangalore, May 30: GMR Infrastructure on Wednesday posted a net consolidated loss of R366 crore for the quarter ended March primarily due to continuing losses at its Delhi airport and also because its energy arm took a hit from shortage of natural gas. It posted a loss of R1,007 crore in the corresponding quarter last year on account of a one-time loss of R939 crore from the divestment of power company InterGen.
Sequentially, in the October-December quarter in 2011, it had reported a net consolidated loss of R108 crore. Net revenue for the quarter declined 3% to R1,962 crore on account of a 14% drop in net revenue from the energy arm and dues from the government-run National Aviation Company of India in the aviation sector.
For the full year, it posted a consolidated net loss of R604 crore compared to loss of R930 crore in the previous year. Net revenue, however, grew 31% to R7,586 crore from R5,774 crore a year ago.
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