Maytas Infra Sept quarter net loss at Rs. 528.79 Crore

Maytas Infra Sept quarter net loss at 528.79 Crore

Wednesday, 30 June 2010, 02:26 Hrs   |    1 Comments
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Bangalore: Maytas Infra, the company once promoted by a kin of disgraced Satyam Computer founder B Ramalinga Raju, today reported a net loss of 528.79 crore for the quarter ended September 2009.

The company had a net profit of 16.84 crore in the same period ended September 2008.

"The company had witnessed unprecedented events and inspections or investigations by the government agencies. At the request of the company, the Company Law Board extended time for publishing the financial results for the quarters ended September, 2009, December, 2009 and year ended March 31, 2010, up to June 30, 2010," Maytas Infra said in a filing to the Bombay Stock Exchange.

Net sales of the company stood at 174.92 crore during the September quarter, down 50.55 percent, from 353.76 crore in the same period previous fiscal.
Source: PTI
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Reader's comments(1)
1: How will the company overcome this?
Posted by:Natasha - 29 Jun, 2010