Maytas Infra in loss of Rs 490 cr in 08-09

by khalid on 30/08/2009 · 0 comments

Maytas Infra

Maytas Infra Private Limited ( MIPL ) has reported a net loss of Rs 489.79 crores for the financial year 2008-09 as against net profit of Rs 99.64 crore in the previous year 2007-08. This year turnover was Rs 1,335 crore while it was Rs 1,637 Crore for the previous year, so a reduction of 19 per cent in turnover.

Personnel cost increased by Rs 55 crore which is 8 per cent of the revenue as against 4 per cent of previous year. Similarly the interest cost and depreciation cost increased by Rs 141 crores and Rs 35 crore respectively over previous year. So the total of these increases is Rs 231 crore and is on account of fixed expenses. In addition to the fixed expenses there is a notional loss of Rs 38 crore on account of restatement of foreign currency loans and Rs 57 crore on account of various provisions created and writing offs against advances. So the gone to Rs 490 Crore.

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