Punj Llyod records loss in Q1-09 on impact of SABIC litigation

Engineering firm Punj Llyod has reported a loss of Rs 253 crore in Q1-09 due to the negative impact of around 28.5 mln ponds (Rs 220 crore) incurred on a litigation between UK-based subsidiary Simon Carves and SABIC Petrochemicals. The company had posted a net loss of Rs 253 crore for Q4-08 against a net profit of Rs 119 crore in the same quarter last fiscal. It suffered a net loss of Rs 225 crore during 2008-09 against Rs 360 crore profit earned in the previous fiscal.
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