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Lanco Infratech is reducing its workforce by nearly 20%, as a part of the consolidation strategy to save cost. It has been making financial losses on lower margins, capitalization and soaring interest charges. In the first three quarters of 2012-13, it has reported the loss of Rs 990 crore.
It is seen slashing its employee cost by 7-10% every quarter. The entity has reported employee cost at Rs 185.8 crore in the first quarter of 2012-13, which reduced to Rs 167 crore in the second quarter. It was further reduced to Rs 155 crore in the third quarter of the last fiscal year.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 2093.85 |
| Rail Vikas Nigam | 72.00 |
| KEC International | 422.40 |
| NCC | 79.25 |
| Ircon International | 64.85 |
| View more.. | |
