Lanco Infratech gains after commencing power supply to Haryana discoms

Lanco Infratech rose 4.54% to Rs 6.45 at 10:01 IST on BSE after the company said it commenced power supply to Haryana discoms from its domestic coal-based unit in Chhattisgarh.

The announcement was made before trading hours today, 7 December 2015.

Meanwhile, the BSE Sensex was up 15.30 points, or 0.06%, to 25,653.41.

On BSE, so far 9.75 lakh shares were traded in the counter, compared with an average volume of 15.54 lakh shares in the past one quarter.

The stock hit a high of Rs 6.71 and a low of Rs 6.20 so far during the day. The stock hit a 52-week high of Rs 7.40 on 27 November 2015. The stock hit a record low of Rs 2.46 on 25 August 2015.

The stock had outperformed the market over the past one month till 4 December 2015, rising 46.21% compared with 3.45% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 126.84% as against Sensex's 1.73% rise.

The small-cap company has an equity capital of Rs 274.93 crore. Face value per share is Re 1.

Lanco Infratech announced that its step-down subsidiary Lanco Amarkantak Power (LAPL) has commenced power supply to Haryana discoms from a coal based 300 megawatts (MW) power generation unit in Chhattisgarh. The commencement of power supply to Haryana discoms will double the revenue of Lanco Amarkantak to around Rs 1200 crore and increase EBITDA by around Rs 200 crore for full year of operations.

On a consolidated basis, Lanco Infratech reported net profit of Rs 98.98 crore in Q2 September 2015 as against net loss of Rs 527.48 crore in Q2 September 2014. Net sales rose 12.97% to Rs 2652.82 crore in Q2 September 2015 over Q2 September 2014.

Lanco Infratech is one of the India's largest integrated infrastructure developers in India. The company has subsidiaries and divisions across a synergistic span of 5 business verticals viz. EPC, power, natural resources, solar and infrastructure.

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