Punj Lloyd reports Rs 140-cr net loss in Dec quarter

Diversified infrastructure major Punj Lloyd today reported a consolidated net loss of Rs 140 crore for the October-December quarter on lower income and higher expenses.
The company had clocked Rs 8.8 crore net profit in the corresponding quarter last fiscal, it said in a statement.
Total income of the company fell 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. The order backlog is the value of unexecuted orders on December 31, 2013 plus new orders received after that date, it said.