Lanco Infra shares zoom 20% as co posts Q2 profit

Shares of Lanco Infratech Ltd today zoomed almost 20 per cent after it posted consolidated net profit of Rs 98.98 crore for the second quarter of the current fiscal after three years.

The stock soared 19.88 per cent to Rs 6.39 at BSE.

On NSE, it surged 19.62 per cent to Rs 6.40.

Swinging back to black Lanco Infratech Ltd yesterday posted consolidated net profit of Rs 98.98 crore in the second quarter of the current fiscal after three years, due to tax reimbursements and favourable power tariff order.

The firm posted a loss of Rs 527.48 crore in the same of period last fiscal, Lanco Infratech Ltd (LITL) had said in BSE filing.
 

According to the statement, the company earned profits on the consolidated basis after a gap of three years.

Its consolidated income from operations increased to Rs 3,418.60 crore in the second quarter as against Rs 2,287.25 crore in the same period, a year ago.