Diversified group Lanco Infratech on Thursday said its consolidated net profit rose by 33.83 per cent to Rs. 106 crore for the third quarter ended December 31, 2009.
Total income decreased to Rs. 1,632.90 crore for the quarter ended December 31, from Rs. 1,839.70 crore in the same quarter last fiscal, Lanco Infratech said in a filing to the Bombay Stock Exchange.
“The results demonstrate the positive environment surrounding the various segments of our business. Clearly margin improvements have been strong, higher cash flow generations and increase in operating capacities augurs well for the group’s future,” Lanco Infratech CFO Suresh Kumar said.
On the standalone basis, the company posted a net profit of Rs 114 crore for the October-December quarter, up 94 per cent over a year-ago period.
Further, the board of directors have approved to sell, or transfer whole or substantial investments held by the company in subsidiaries, associates and other group companies in the power segment, as going concerns for consideration in cash to any wholly-owned subsidiary of the company in the power segment.
Lanco Infratech is engaged in construction, power, infrastructure, property development and renewables.