Punj Lloyd back in the red

Punj Lloyd is amongst the top losers on the BSE currently. The stock is currently down over 5.5% at Rs.38.30, with an intra day low at Rs.37.50.

The market is extremely disappointed with its Q2FY15 numbers as the company posted a net loss of Rs.263 crore compared to a net profit of Rs.2 crore in previous Q2. Its total income was also down 43% at Rs.1273 crore. Its operating costs were down 28% (YoY). The company has said that the performance reflects the impact of insufficient order wins in the previous two financial years, there is a positive improvement compared to the previous quarter. Its order backlog is Rs.23,335 crore.