Economy & Market
Punj Lloyd Group announces Q2FY2014 results
Punj Lloyd Group, the diversified engineering, procurement and construction conglomerate, announced its financial results for the second quarter ended September 30, 2013. Punj Lloyd has operations spread across 22 countries, a mix across the Middle East, Africa, the Caspian, Europe, Asia Pacific and South Asia. The company reports consolidated total income in Q2FY2014 at INR 3,135 crore. The Q2 revenues are up by 13 per cent with a strong order backlog at INR 20,891 crore. The Industry continues to face challenges of prolonged economic slowdown coupled with high finance costs. Punj Lloyd is aggressively pursuing various steps that are aimed at reducing its financing costs as well as improving operational efficiencies. The Group has over 21,000 skilled multicultural workforce worldwide.