Business Line reported that IL&FS Engineering and Construction Company Ltd has posted a loss of INR 15.79 crore for the Q2 ended September 30th 2012, as against a loss of INR 37.62 crore for the corresponding period last year.
Income from operations was up at INR 266.04 crore for the Q2 as against INR 254.16 crore for the same period last year.
The Hyderabad based infra company also announced its consolidated numbers for the 18 months period ended September 30th 2012 wherein it closed with a loss of INR 156.64 crore and a revenue of INR 2,204.44 crore.
The board of directors recommended a dividend of 6% for preference shareholders for the financial years 2010-11 and 2011-12 on pro-rata basis for the time preference shares were outstanding during respective years.
The management had extended the financial year to 18 months to enable them to finalize the scheme of arrangement of capital restructure.
The company has allotted equity shares pursuant to conversion of optionally convertible redeemable preferential shares in line with the terms of corporate debt restructure scheme.
The auditors have qualified couple of provisions made by the company. These include inter corporate deposits made to Satyam Computers Services Ltd and deposits, now subject of court cases.
