According to reports, low capacity utilisation of power plants and a poor show by its EPC division impacted the financial performance of Lanco Infratech Ltd for the fourth quarter and for the financial year ended March 31, 2013.
The infrastructure company posted a loss of Rs 31.6 crore in Q4, against a profit of Rs 72.7 crore for the corresponding previous period. It had to take a forex hit of 16.7 crore.
Income for the fourth quarter was up 6 per cent at Rs 3,569.6 crore (Rs 3,376.2 crore same period last year).
On divestment moves, which it has been working on the past few quarters, he said the perception of international investing community on the infrastructure sector has been adversely impacted.
“They are in no haste to invest in India. While talks are on, there has been delay in concluding deals,” he said.
Referring to divestment in wind and solar units, T. Adibabu, Chief Operating Officer, Finance, said Lanco recently sold its 10 MW wind farm in Tirunelveli, Tamil Nadu to a spinning mill. Negotiations are on for other assets in Karnataka as also solar and hydel projects.