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Lanco Infra consolidated Q3 net profit down 63 pct

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SummaryThe company had clocked Rs 164.02 crore net profit in the October-December quarter.

Lanco Infratrech today reported nearly 63 per cent dip in consolidated net profit for the quarter ended December 31, 2011, at Rs 60.92 crore on higher outgo on raw material and interest expenses.

The company had clocked Rs 164.02 crore net profit in the October-December quarter of last fiscal, it said in a filing to the BSE.

Gross operating revenue of the company, however, grew to Rs 4,596 crore during the reporting quarter against Rs 2,910 crore a year ago.

Lanco Infratech consumed raw material Rs 1,985 crore in the quarter compared to Rs 738 crore in the same quarter last fiscal.

Interest outgo of the company also went up to Rs 268.24 crore during the quarter vis-a-vis Rs 189 crore during the October-December quarter last fiscal.

Lanco Infratech generates around 95 per cent of its gross revenue from EPC and power businesses. It has also interests in solar power, natural resources, infrastructure and property development.

Shares of the company were trading at Rs 17.40 apiece in morning trade at the BSE, up 8.07 per cent over previous closing.

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