IL&FS Engineering and Construction Ltd, formerly known as Maytas Infra Ltd, has posted a net loss of Rs 14.11 crore in the three months to June 30, compared with Rs 43.46 crore in the corresponding quarter last year. The company's total income rose 40 per cent in the quarter to Rs 253.17 crore from Rs 180.72 crore.
The company said the financial results include its share of profits amounting to Rs 51.18 lakh from integrated joint ventures in which it is a co-venturer, except from one JV which has not yet prepared its results.
On realising its claim for Rs 323.78 crore from the erstwhile Satyam Computer Services Ltd, the company said it was confident of recovering the inter-corporate deposits with interest.
IECL said it had won contracts worth Rs 1,600 crore in road and building projects in the last six months.
It has also been exploring opportunities in the Middle East and has bagged two orders aggregating to more than Rs 900 crore. The company said it had mobilised resources to meet the execution requirements and hopes to bag higher value added contracts in the near term.
In June quarter, IECL got its first order in the oil and gas space since the takeover of operations by the IL&FS group. The $100-million project is in UAE, and opens up a new territory for the company, it said.