ITNL working on turnaround plan, focusing on asset sale, fund raising

It has drawn up a plan, as part of which it wanted to monetise some road assets

IL&FS Transportation Networks (ITNL) is looking at a mix of asset sale, fund raising, debt refinance and some renegotiated contracts to tide over its troubles.

Besides its highest ever quarterly loss, the IL&FS group company is facing issues like terminated contracts, projects whose financial closures are pending, and an infrastructure investment trust plan that fell through. For the quarter ended June 2018-19, ITNL reported a loss of Rs 2.48 billion at the standalone level after eight quarters of profitable operations. 

In a conference call, the management told analysts it had drawn up a plan, as part of which it wanted