ENS Economic Bureau | New Delhi | February 15, 2014 2:03 am
Lanco Group sacks 4,000 employees due to slowdow
The total debt sitting on the books of the company is Rs 36,558 crore and there is little chance of it melting soon as its revenue has dipped to Rs 458.54 crore at the end of December 2013 just 50 per cent of the figure for last year, at the same time.
Shares of Lagadapati Rajagopal’s Lanco Infratech, the holding company of the group, are now trading at 35 per cent discount to the book value at the BSE on Friday.
The market cap of the firm is down to Rs 1,565 crore as the company, which originated in Andhra Pradesh, has almost eaten through its net worth. The total debt sitting on the books of the company is Rs 36,558 crore and there is little chance of it melting…
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