GVKPIL posts Rs.235 crore loss during Q2

Sarkaritel
By Sarkaritel November 15, 2014 12:47

GVKPIL posts Rs.235 crore loss during Q2


Hyderabad, Nov 15  GVK Power and Infrastructure Ltd (GVKPIL) posted net loss for the quarter ended Sep 30 at Rs. 235.56 crore as against a net loss of Rs.57.19 crore in the corresponding quarter the previous year.

The company attributed the loss to stoppage of supply of gas for two power plants and temporary stoppage of supply to one plant as a result of which the plants operated at very low capacity.

The interest cost on the borrowing for the acquisition of stake in Mumbai and Bangalore airports also has had an impact on the consolidated profit, the Hyderabad-based company said in a statement.

GVKPIL registered a total income of Rs.698.76 crore as against Rs.691.91 crore during the corresponding quarter of the previous year.

Mumbai International Airport Pvt Ltd (MIAL) registered a growth of 11 percent in revenues.

Its revenues were Rs. 580.67 crore as against Rs.523.07 crore during the same period last fiscal.

The loss for the quarter was Rs.68.87 crore as against a profit of Rs.84.77 crore in the corresponding quarter the previous year.

Bangalore International Airport Ltd (BIAL) recorded revenue of Rs. 234.36 crore, up from Rs.160.36 crore during Q2 of 2013-14.

It registered a revenue growth of 46.15 percent. The net profit for the quarter was Rs. 5.57 crore as against the profit of Rs.38.62 crore in the corresponding quarter of the previous year.

Sarkaritel
By Sarkaritel November 15, 2014 12:47