Punj Lloyd Q2 net loss widens to Rs 283 cr

Engineering conglomerate Punj Lloyd today reported widening of its net loss to Rs 283.20 crore for the July-September quarter on decline in income.
It had reported a net loss of Rs 263.51 crore for the first quarter of the previous fiscal.
Total income from operations dipped by 20.37 per cent to Rs 1,008.89 crore during the quarter under review from Rs 1,267.01 crore in the same quarter of the last fiscal, the company said in a regulatory filing.
Total expenses for the period stood at Rs 1,141.35 crore during the quarter against Rs 1,464.03 crore a year-ago.
Chairman Punj Llyod Group Atul Punj said: "This quarter has seen the company book oil & gas orders in refineries and tankage. With a presence in IOCL's Haldia and Paradip Refineries and in Ennore, Punj Lloyd is well placed to execute these new repeat orders with good margins."

He added: "Moreover, the company's decision to enter the T&D segment in power has been a prudent one with the company winning multiple rural electrification orders in the state of Odisha."

The group said its order backlog stands at Rs 19,802 crore on September 30 including Rs 6,871 crore in pipeline and tankage and Rs 1,299 crore in power.
Punj Lloyd Group offers EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.
The company's stock closed at Rs 24.85, down 0.60 per cent on BSE.