Alstom Projects logs in loss of Rs 38.5 crore in Q3

MUMBAI: French firm Alstom's India arm Alstom Projects reported net loss of Rs 38.5 crore for the quarter ended December 31, as against profit of Rs 159 crore during the same period last fiscal.

However, the company witnessed about 30 per cent jump in net sales at Rs 4,758 crore, up from Rs 3,667 crore in the October-December quarter of 2010-11, the company said in a filing to BSE.

Alstom Projects also reported 31 per cent increase in employee cost at Rs 1,094.6 crore, as compared to Rs 832.3 crore in the same quarter last fiscal.

The company recently bagged a contract from Isolux Corsan to supply gas turbine equipment and associated services for a 180 MW simple cycle gas-fired power plant for the North-West Power Generation Company (NWPGCL) in Khulna district of Bangladesh.

Shares of Alstom Projects closed at Rs 368.40, down 2.64 per cent on the BSE.