Diversified group Lanco Infratech on Saturday reported a consolidated net loss of R135.93 crore for the three months ended September as the entity continued to grapple with fuel shortages for its power projects. However, the entity’s consolidated net loss has narrowed from R259.48 crore in the September quarter.
Lanco Infratech COO (finance) T Adibabu said lower operations of power plants, especially at 1,200 MW Anpara in Uttar Pradesh, due to various issues related to fuel and infrastructure, also affected the performance of the company. The group recorded revenues of R3,184.77 crore in the latest quarter, much higher than R1,896.31 crore in the year-ago period.
“We expect (our power projects) to see better operating performance in the coming months,” Adibabu said.
Currently, Lanco Infratech has an installed generation capacity of little over 4,700 MW and five projects — having capacity of over 4,000 MW — are under construction. Lanco has a net debt of more than R32,700 crore. Out of the total amount, about R16,576 crore are related to projects under construction.