Punj Lloyd Group, the diversified engineering,procurement & construction conglomerate, today announced its financial results forthe first half (H1) and second quarter of FY2010
H1 FY2010 Results (All in comparison with H1 FY2009)
- â€¢ Revenues at Rs. 5,844 crores as compared to Rs. 5,611 crores
- â€¢ EBIDTA remains flat at Rs. 521 crores
- â€¢ PAT at Rs. 180 crores as compared to Rs. 256 crores
- â€¢ EPS at Rs.5.78 for H1 FY2010
- â€¢ Healthy order backlog at Rs. 26,808 crore as on September 30, 2009
The Group has large order backlog from infrastructure projects amounting toÂ Rs. 98,481 million in Libya, however no revenues and margins for these projectsÂ have been booked in the period under review. The management is hopeful thatÂ revenues and margin bookings on these projects will start from Q3 of FY 2010.Â The Group continues to address challenges with regard to the performance of itsÂ wholly owned subsidiary, Simon Carves Limited UK, which is executing a bio ethanolÂ project in UK. There are cost overruns owing to delays in completion of the projectÂ and poor productivity from sub-contractors in the UK. Simon Carves during the Q2 ofFY 2010 has incurred a loss of Rs. 1040 million on this project.