GVK Power & Infrastructure has narrowed net loss to Rs 123.92 crore in the June quarter on back of a better operational performance across airport and power businesses. In the same quarter last year, it had reported Rs 281.34-crore loss.
“Losses in the quarter can be attributed mainly to the restricted supply of gas for Jegurupadu phase I and Gautami power plants, and nil supply to Jegurupadu phase II as a result of which the plants did not operate at full capacity and higher interest cost on acquisition loans,” the company said in a statement. Consolidated total income from operations rose 40% to Rs 999.03 crore for GVKPIL.
In its airport business, Mumbai International Airport recorded a revenue of Rs 662.94 crore against Rs 561.06 crore, an increase of 18.16%.