30% due to slowdown
Lanco Infratech Q4 loss widens to Rs 584 cr income down 23%
Lanco loss widens to Rs 530 cr on receivables, fuel shortage
Some relief for Lanco Infratech
Lanco Infratech Sep quarter net loss widens to Rs 581 crore
Lanco Infratech Ltd
On BSE 8.05-0.24 (-2.90%) On NSE 8.05-0.20 (-2.42%)
Lanco Infratech, which has interests in infrastructure, power and realty segments, retrenched 30 per cent of its 5,700 workforce during the last financial year due to slowdown in development of some of its projects amid subdued market conditions.
According to the latest annual report of the infra major, the group, which had a workforce of 5,700 by the end of March 2013, cut down its workforce to 4,000 by the end of March this year. By the end of FY12, it had nearly 8,000 employees, the report said.