IL&FS Construction reports Rs 34.4 crore profit for December 2018 quarter
After a wait of more than a year, IL&FS Construction and Engineering has disclosed its December 2018-ended quarter results.
The company has reported profits of Rs 34.4 crore, a huge rise when compared to Rs 32 lakh in profits it posted in the December 2017-ended quarter.
Revenues came in at Rs 300 crore, a 34.7 per cent dip when compared to revenues of Rs 459.5 crore it posted in the December 2017-ended quarter.
The above numbers are standalone results as IL&FS has committed a massive fraud and is under investigation by the government. These numbers have been reviewed by the audit committee and approved by the Board of Directors, head by banker Uday Kotak.
As on December 2018, IL&FS has provisioned exceptional items amounting to Rs 1,640 crore.
