IL&FS Engg and Construction Mar-qtr loss widens to Rs 46 cr

IL&FS Engineering & Construction Company today reported a loss of Rs 45.92 crore for the quarter ended March 31, 2013, due to higher raw material and business expenses.

The company had reported a loss of Rs 37.73 crore in the year-ago period.

However, income from operations of the company grew to Rs 593.15 crore during the quarter against Rs 509.88 crore in the corresponding period of the previous fiscal, it said in a BSE filing.

Higher raw material consumption and an increase in sub- contracting costs fuelled its total expenses to escalate to Rs 611.54 crore during the January-March quarter from Rs 525.55 crore in the same period of 2011-12, it said.     IL&FS Engineering & Construction Company said its costs of materials consumed grew to Rs 130.94 crore from Rs 116.62 crore.

Sub-contracting expenses also rose to Rs 404.04 crore from Rs 342.89 crore.

Shares of the company were trading down by 5.06% at Rs 41.25 apiece during the late afternoon trade on the BSE.