Punj Lloyd Posts Consolidated Loss in Q4

Punj Lloyd Posts Consolidated Loss in Q4Engineering firm Punj Lloyd has announced that it has posted consolidated net loss of Rs 2,556 million for the quarter ended Mar. 31, 2009 as compared to net profit of Rs 1,177 million for the same quarter ended Mar. 31, 2008.

During the quarter under review, company’s total income has witnessed a growth of 38.75% which stood at Rs 32,306 million as against Rs 23,284 million for the same quarter of fiscal 2008.

On standalone basis, the company has revealed a substantial dip in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company fell 54.03% to Rs 596 million from Rs 1,297 million in the same quarter last year.

Net sales for the quarter went up 32.06% to Rs 19,801 million, while total income for the quarter climbed 31.47% to Rs 19,807, when compared with the prior year period.

The company has reported earnings of Rs 1 a share during the quarter, registering 54.21% decline over previous year period.

Further, the company’s board has announced 15% dividend of Re 0.30 a share on the equity share capital of the company.

The sources said that the conglomerate has clinched an agreement with Citycom Networks (Citycom) for sale of certain assets of ISP division of the company and certain assets of its wholly owned arm Spectra Punjab.

Stock price of Punj Lloyd settled at Rs 163, up 23.65% on National Stock Exchange (NSE). The total volume of shares traded on NSE was 78,345.