Lanco Infratech Ltd, which is into power, real estate and construction, reported a 19.17 per cent increase in its net profit for the first quarter ended June 30, 2008, at Rs 59.05 crore, as compared with Rs 49.55 crore, during the comparable quarter a year ago.
Total income grew 59.15 per cent to Rs 926.78 crore, as against Rs 585.98 crore during the same period last year, triggered by a 250 per cent growth in revenues from construction and EPC contracts, which stood at Rs 518.2 crore during the quarter, as against 147.9 crore in the corresponding quarter last year.
The company's share of foreign exchange translation losses amounting to Rs 13.6 crore has been accounted for on notional basis without any impact on cash earnings, Lanco Infratech stated in a press release on Thursday.
