Lanco Infratech nets Rs 188cr in FY07

HYDERABAD: Lanco Infratech Ltd has posted net profit of Rs 187.9 crore for 2006-07 against Rs 17 crore for the previous year.

Total income for the year concluded was at Rs 1,647.3 crore as compared to a sum of Rs 148.4 crore the previous fiscal.

The results for 2006-07 include those of Lanco Infratech's subsidiaries like Lanco Kondapalli, Aban Power Company, Rithwik, Clarion and Lanco Electric Utility, which were only associate companies in the previous years. Hence the results for 2006-07 are not strictly comparable with that of the previous year.

Lanco undertook a restructuring process in 2006-07 when the company increased its stake in these associate companies between 55%-99%, thereby making these, its subsidiaries.

For the quarter ended March 2007, Lanco Infratech clocked net profit of Rs 56.9 crore as compared to Rs 8.3 crore in the corresponding quarter the previous year. The total income for the quarter was at Rs 500.6 crore as compared to Rs 96.8 crore in the previous fiscal.

The stocks of Lanco Infratech were up 2.32% at Rs 160.95 in BSE on Monday.