BackLanco net up 12 times
Lanco net up 12 times
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Hyderabad: On the back of consolidation of its power and construction businesses, Lanco Infratech Ltd has reported a growth of 2.37 times in consolidated gross revenue and 12.03 times in net profit for the quarter ended June. he company posted a total income of Rs603.3 crore, up from Rs254.7 crore in the same quarter last year. Net profit rose to Rs51.3 crore, up from Rs4.3 crore.
According to Lanco group chairman L. Madhusudhan Rao, power contributed 75%to turnover and profits, and construction contributed the remaining 25% top and bottomlines.
Power business revenue grew to Rs441.52 crore, up from Rs159.22 crore compared with the same quarter last year. Construction contributed Rs147.91 crore against Rs91.78 crore in the previous year.
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