Punj Lloyd Q2 net loss at Rs 263.5 crore

Engineering and construction major Punj Lloyd today reported a net loss of 263.51 crore for the second quarter ended September 30.
The company had reported a net profit of Rs 1.60 crore in the corresponding quarter of previous fiscal, Punj Lloyd said in a filing to BSE.
Total income from operations of the company during the July-September period declined to Rs 1,273.25 crore compared to Rs 2,222.44 crore in the corresponding quarter of last financial year, it said.
Total expenses of the company came down to Rs 1,468.44 crore as against Rs 2,038.80 crore in the same quarter last fiscal.

Commenting on the results, the company's Chairman Atul Punj said, "While the performance reflects the impact of insufficient order wins in the previous two financial years, there is a positive improvement compared to the previous quarter."
"This will further improve the order wins in the current year till date and the expected order inflows in the near future," he added.
The company said that its order backlog stood at Rs 23,335 crore.
Shares of the company closed at Rs 40.55 apiece on BSE, up 5.74 per cent from their previous close.