Saturday, February 14, 2015

LANCO INFRA REPORTS HUGE LOSS

Power and infra firm Lanco Infratech  has reported consolidated net loss Rs.642 crore in the quarter ended December on account of underutilization of capacity at its power plants due to fuel shortages plus higher finance costs, forex losses and delays in recovery of dues from state utilities.

The company's equity stands at Rs 239 crores. The company has accumulated  huge loss in the last 3-4 years.

The stock closed at Rs 6, in yesterday's trading.

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