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Lanco Infratech Q4 loss swells 5 times to Rs528 cr

Lanco Infratech Q4 loss swells 5 times to Rs528 cr
Lanco Infratech's consolidated net loss swollen five times at Rs 528.29 crore for the quarter ended on March 31, 2017, mainly due to lower operational income.

The company had reported a consolidated net loss of Rs 105.37 crore for the quarter ended on March 31, 2016, Lanco Infratech said in a BSE filing.

Its total income from operations was down at Rs 1,982.68 crore in the fourth quarter of 2016-17 from Rs 2,066.01 crore in the year ago quarter. The company's consolidated net loss for 2016-17 too widened to Rs 2,049.13 crore from Rs 269.10 crore loss in the previous year. Total income from operation in the last fiscal was Rs 7,343.69 crore compared to Rs 8,098.47 crore in 2014-15.

The company stated that as on March 31, 2017 the Group has receivables from various State Electricity Utility Companies and other customers for sale of power aggregating to Rs 1,377.30 crore, net current liabilities of Rs 2,419.86 corre.
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