Punj lloyd reports Rs 140 crore net loss in Q3

Infrastructure major Punj Lloyd fell into the red after the company reported net loss of Rs 140 crore during the October-December quarter on lower income and higher expenses.

The company had posted net profit to the tune of Rs 8.8 crore in the year ago period.  

Total income of the company fell by close to 4% to Rs 2,774 crore from Rs 2,881 crore a year ago. Expenses, on the other hand, rose to Rs 2,730 crore from Rs 2,678 crore a year earlier.     

"While the environment continues to be challenging, initiatives and developments at Punj Lloyd make us cautious but optimistic about the future," Punj Lloyd Group Chairman Atul Punj said. The group's order backlog stands at Rs 18,852 crore.Last year, the company had announced that its Singapore based subsidiary Punj Lloyd Pte had sold its entire holding in Olive Group capital.

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