Punj Lloyd Q2 Loss Widens to Rs 283 Crore

New Delhi: Engineering conglomerate Punj Lloyd on Friday reported widening of its net loss to Rs 283.20 crore for the July-September quarter, on a decline in income.

The company had logged a net loss of Rs 263.51 crore for the quarter ended September 30, 2014.

Total income from operations dipped 20.37 per cent to Rs 1,008.89 crore during the quarter under review from Rs 1,267.01 crore in the year-ago period, the company said in a regulatory filing.

Total expenses for the period stood at Rs 1,141.35 crore as against Rs 1,464.03 crore a year ago.

"This quarter has seen the company book oil & gas orders in refineries and tankage. With a presence in IOCL's Haldia and Paradip Refineries and in Ennore, Punj Lloyd is well placed to execute these new repeat orders with good margins," Punj Llyod Group chairman Atul Punj said.

"Moreover, the company's decision to enter the T&D segment in power has been a prudent one with the company winning multiple rural electrification orders in the state of Odisha," he added.

The group said its order backlog stood at Rs 19,802 crore as of September 30 including Rs 6,871 crore in pipeline and tankage and Rs 1,299 crore in power.

Punj Lloyd Group offers EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.

Shares in Punj Lloyd, on Friday, ended 0.60 per cent lower at Rs 24.85 apiece on the BSE, whose benchmark finished down 0.15 per cent.