Maytas Infra incurs net loss of Rs 490 cr

There is an increase in personnel cost by Rs 55 crore which is 8 per cent of the revenue as against 4 per cent of previous year. The interest cost and depreciation cost increased by Rs 141 crores and Rs 35 crore respectively over previous year.

The total of these increases is Rs 231 crore and is on account of under absorption of fixed cost due to reporting lower level of operation as against planned for the year,the release said.

In addition to the fixed expenses there is a notional loss of Rs 38 crore on account of restatement of foreign currency loans and Rs 57 crore on account of various provisions created and writing offs against advances.