Lanco Infra Q4 net loss widenshttps://indianexpress.com/article/business/business-others/lanco-infra-q4-net-loss-widens/

Lanco Infra Q4 net loss widens

The company attributed the loss due to delays in execution of contracts and cost associated with price escalation among others.

Hyderabad-based Lanco Infratech’s consolidated net loss widened to Rs 584.29 crore for the quarter ended March 31 against a consolidated net loss of Rs 31.59 crore in the year ago period, due to a difficult operating environment resulting in sharp fall in income.

Gross revenue before inter segment/intra-group eliminations fell by 24 per cent year-on-year to close at Rs 2,856 crore, while total income from operations after all adjustments stood at Rs 2,762 crore, a fall of 23 per cent year-on-year.

The company attributed the loss due to delays in execution of contracts and cost associated with price escalation among others.     ENS