New Delhi, Feb 14 (PTI) Infrastructure player Punj Lloyd today reported narrowing of net loss to Rs 183.95 crore for the quarter ended December 31, 2017.
The company had clocked a net loss of Rs 231.81 crore in the corresponding period of the previous fiscal, it said in a BSE filing.
Total income rose to Rs 1,135.57 crore during the quarter under review as against Rs 1,011.10 crore in the year-ago period.
Expenses increased to Rs 1,319.52 crore in the reported quarter as against Rs 1,242.91 crore in the year-ago period.
“The company has incurred losses resulting in erosion of its net worth as at December 31, 2017. However, it has submitted a proposal to its lenders for restructuring of debt,” it said.
The company is taking several measures to improve operational efficiencies, besides monetising the identified assets as avenues of raising funds, it added.
“The management is confident that it would be able to generate sustainable cash flow, discharge its short-term and long-term liabilities and recoup the erosion in net worth through profitable operations and continue as a going concern,” it said.
This is published unedited from the PTI feed.