Punj Lloyd Group reports INR 180 crores profit for H1

Saturday, 31 Oct 2009

The diversified engineering, procurement & construction conglomerate Punj Lloyd Group announced its financial results for the H1 and Q2 of FY2010 at its Board of Directors’ meeting.

H1 FY 2010 Results
1. Revenues at INR 5,844 crores as compared to INR. 5,611 crores
2. EBIDTA remains flat at INR 521 crores
3. PAT at INR 180 crores as compared to INR 256 crores
4. Healthy order backlog at INR 26,808 crore as on September 30th 2009

The Group has large order backlog from infrastructure projects amounting to INR 98,481 million in Libya, however no revenues and margins for these projects have been booked in the period under review. The management is hopeful that revenues and margin bookings on these projects will start from Q3 of FY 2010.

The Group continues to address challenges with regard to the performance of its wholly owned subsidiary, Simon Carves Limited UK, which is executing a bio ethanol project in UK. There are cost overruns owing to delays in completion of the project and poor productivity from sub contractors in the UK. Simon Carves during the Q2 of FY 2010 has incurred a loss of INR 1040 million on this project.