Lanco Infratech stock price stumbles to Rs. 5

Lanco Infratech, belonging to maverick anti-Telangana MP Lagadapati Rajgopal, is facing a severe financial crisis. The company’s stock price tumbled to an alarming Rs 5 last week, from about Rs 500 in December 2009.

Lanco has posted a huge loss of Rs 578 crore for the first quarter ended June 30, 2013 against a loss of Rs 441 crore in the corresponding period last year.

Lanco’s performance was severely impacted due to lower power generation in its gas-based and coal power plants, hurdles in project execution, higher interest outgo and foreign exchange loss of Rs 220 crore.

Lagadapati Rajgopal’s company is currently in a deep debt trap. Its gross debt has reached Rs 35,394 crore last month

Lanco Infratech’s Australian subsidiary Griffin Coal, is also in severe financial stress. Last week, it missed a $1.5 Million payment to The Construction, Forestry, Mining and Energy Union.

Also Read:


– The True Face of Lagadapati Rajgopal

– Politics Part-time, Business Full-time!

– No Work, Full Pay For Lanco

– LANCO Solar Scam – The Complete Story

– Lagadapati Rajgopal’s Mega Scam

– How a partial CBI spared Lagadapati Rajgopal

– Lanco in severe financial stress. Employee salaries delayed.


Leave a Reply

Your email address will not be published. Required fields are marked *