Lanco Infratech reports Rs 441 crore loss in Q1

NEW DELHI: Lanco Infratech on Tuesday posted a net loss of 441.15 crore for three months ended June on increased fuel cost and forex losses. The company posted a consolidated net profit of Rs 13.77 crore in the year-ago period.

Its total income has grown about 33% to Rs 3,998.46 crore (Rs 3,013.33 crore) .

Lanco financial controller T Adi Babu said under-utilisation of its power projects due to non-availbilty of gas and coal and foreign exchange fluctuation hit the company's profitability. Babu, however, said the company expects to make profits in the second half of this financial year as coal supply to many of its projects has been restored. Babu said distribution utility of Uttar Pradesh has agreed to revise tariff for power to be purchased from Lanco's Anpara project.