Lanco Infratech Q2 net up 238.97 pc

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New Delhi, Oct 27: Lanco Infratech Ltd today said its net profit jumped by 238.97 per cent to Rs 34.27 crore for the quarter ended September 30, as compared to Rs 10.11 crore during the corresponding period during the previous fiscal.

Total income of the company also shot up by 313.57 per cent to Rs 388.55 crore for Q2 FY2007-08, as compared to Rs 93.95 crore for the same period in 2006, a statement said.

The Group also posted a profit after tax of Rs 60.9 crore for the quarter ended September 30, as compared to Rs 51.82 crore for corresponding period a year ago.

Total income of the Group stood at Rs 668.68 crore for the quarter ended September 30, against Rs 441.42 crore for the same quarter last year.

''During the last fiscal, the company had consolidated certain group entities engaged in the business of power, construction and property development under its management. Consequently, these companies have become its subsidiaries/associates. Hence, the consolidated results for the current period are not fully comparable with those of the corresponding period of the previous year,'' a statement said.

The construction division of the company bagged a Rs 730 million order from Tirupati Tirumala Devasthanams for construction of Sri Venkateswara Vedic University at Alipiri, Tirupati, the statement added.

The company also received a Rs 82.4 crore contract for construction of New Terminal Building at Varanasi Airport by the Airports Authority of India, the statement said.

The company further informed that it has entered into a Memorandum of Understanding (MoU) with UAE-based Gulfainer Company Ltd, to co-operate on a variety of port and transportation projects.


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