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Punj Lloyd Q1 standalone net loss at Rs 364 cr

 New Delhi:Punj Lloyd Ltd on Monday reported standalone net loss of Rs. 363.92 crore for the first quarter ended June 30.The company had reported a net profit of Rs. 4.95 crore in the corresponding period
PTI August 05, 2014 10:15 IST
PTI
 New Delhi:Punj Lloyd Ltd on Monday reported standalone net loss of Rs. 363.92 crore for the first quarter ended June 30.

The company had reported a net profit of Rs. 4.95 crore in the corresponding period of 2013-14, the company said in a filing to BSE.

Punj Lloyd's total income from operations in April-June, 2014 quarter declined to Rs. 1,113.83 crore over Rs. 2,228.92 crore in the corresponding period of previous financial year, it said.

Speaking on the occasion, Punj Lloyd Group Chairman Atul Punj said, “While the revenue and profitability show an underperformance this quarter, I believe that the impact of the series of steps taken to strengthen the business, recovery of long pending claims from customers, new order inflows, as well as the positive outlook for the sector would see the company going back into profitable trajectory at a fairly quick pace.”

“The company's leadership in the energy sector is adequately demonstrated by the recent strong wins in the order position in this space.

“The company sees development of a strong opportunity in the highways and civil infrastructure space in India and from the Middle East regions and has strengthened the organisation to seize such opportunities,” he said.

The Group's order backlog stands at Rs. 21,164 crore.