Lanco Infratech March qtr net dips 47% to Rs 90 cr

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Lanco Infratech March qtr net dips 47% to Rs 90 cr

This article was posted on May 30, 2009 and is filed under Stock News

Lanco Infratech today reported a decline of 46.75 per cent in its net profit at Rs 89.86 crore in the March quarter of 2009, over the same period last year. The company had a net profit of Rs 168.78 crore in the quarter ended March 2008, Lanco Infratech said in a filing to the Bombay Stock Exchange.

However, the total income of the company rose to Rs 2,056.12 crore in the quarter ended March 2009, from Rs 1,318.16 crore in the same period previous fiscal.

In the year ended March 31, 2009, the company posted a net profit of Rs 280.35 crore, down 20.84 per cent from Rs 354.17 crore in the same period previous fiscal.

In a separate filing on the BSE, the firm said the board of directors has approved raising of Rs 2,500 crore through American depository receipts, global depository receipts and foreign currency convertible bonds.

source: Business-Standard

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