Lanco Infratech has incurred a net loss of Rs.527.48 crore in the quarter ended September 30 as against Rs.581.08 crore loss in the corresponding period of the previous fiscal.
According to the consolidated results it filed to the BSE on Saturday, total income was lower at Rs.2,361.67 crore (Rs.2,466.40 crore). The forex loss in the quarter was comparatively higher at Rs.190.52 crore (Rs.151.08 crore).
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The diversified infrastructure developer company said various factors beyond its control such as short supply of coal, non-availability of gas, pending tariff clarity and delayed payments from customers posed challenges for meeting the cash flow needs. The operating assets were not generating envisaged revenues on account of the factors, it said.
As on September 30, the receivables from various State electricity utility companies and other customers for sale of power totalled Rs.2,465.91 crore.
Non-supply of gas from KG D-6 stalled operations of the Phase II plant of Lanco Kondapalli Power Ltd (LKPL), while generation from the Phase-I was lower as there was no supply of gas by after a fire in the GAIL pipeline. In this backdrop, LKPL has approached lenders for reschedule of commercial operation date and repayment of project term loans of Phase III expansion, which is getting ready for operations.
The second unit of Lanco Amarkantak Power Ltd in Chhattisgarh remained shut in the quarter in view of non-availability of coal. Lanco Anpara Power Limited, which operates a 1,200-MW plant in Uttar Pradesh, had incurred losses as the facility is operating at sub optimal levels since inception due to initial stabilising issues and coal infrastructure constraints.
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