Lanco Infratech, construction and energy conglomerate Company has crashed plans to bid for assets of Australia's Premier Coal. Earlier company was considering to bid for the Australian firm, owned by coal-to-retail conglomerate Wesfarmers.
The company also plans to foray into power plant equipment manufacturing.
Recently, Lanco has registered a fall of 42.78% in its net profit for the year under review at Rs 278.32 crore as compared to Rs 486.38 crore for the last year. Its total income has decreased by 1.38% at Rs 5915.18 crore for the year from Rs 5998.21 crore in previous year.