Lanco Infra net rises 88%

By OUR CORRESPONDENT

HYDERABAD:May 30: Lanco Infratech on Friday posted a net profit of Rs 354.17 crore as against Rs 187.99 crore last year, a growth of 88.39 per cent.

The total income stood at Rs 3,336.55 crore for 2007-08, while it was Rs 1647.34 crore previous year.

Consolidated net profit for the last quarter of 2007-08 is Rs 159 crore as against Rs 56.90 crore in the same period last fiscal. For the last quarter, the group’s total income stood at Rs 1,267.76 crore, while the same was at Rs 500.56 crore a year ago.

Of the total turnover, construction segment has contributed Rs 658.39 crore, power Rs 617.96 crore, property development Rs 128.8 crore and infrastructure development Rs 11.21 crore.

According to the company, it had consolidated certain group entities engaged in the business of power, construction, property deve-lopment and infrastructure under its management.

The consolidated results for the current period, the company said, are not fully comparable with those of the corresponding period of the previous year.

The company has an order book of Rs 13,525 crore in the construction and EPC segments.

On a standalone basis the company posted a net profit of Rs 109.99 crore for the March quarter of fiscal year 2007-08, where as the same was at Rs 24.26 crore for the fourth quarter of the last fiscal.

The company reported a net profit of Rs 200.17 crore whilst the same was at Rs 73.06 crore for 2007-08.