GVK Power & Infrastructure (GVKPIL) has narrowed its net loss to Rs 123.50 crore as against Rs 235.56 crore reported in the same quarter of the previous year. The losses were attributed mainly to the restricted supply of gas for Jegurupadu phase I and nil supply to Jegurupadu phase II and Gautami power plant. As a result, the plants did not operate at full capacity, besides a higher interest cost on acquisition loans.
The consolidated total income from operations stood at of Rs 1,068.32 crore as against Rs 698.76 crore during the corresponding quarter of the previous year, recording an increase of 52.9%, on higher income from operations particularly power and airports segments. EBIDTA at a consolidated level for the year stood at Rs 504.22 crore as against Rs 266.22 crore in the previous year, recording an increase of 89.4%.
In the airport segment, Mumbai International Airport Private Ltd (MIAL) recorded a revenue of Rs 636.17 crore as against that of R580.67 crore, registering an increase of 9.6%. The net loss is Rs 11.53 crore as against net loss of R68.87 crore. Bangalore International Airport Ltd (BIAL) recorded a revenue of Rs 278.40 crore as against R234.36 crore registering an increase of 18.8%. PT GVK Services, Bali airport recorded revenue of R25.59 crore as against R12.11 crore registering an increase of 111.31%.
In the transportation segment, GVK Jaipur Expressway Private recorded revenue of Rs 78.71 crore as against Rs 73.88 crore, registering an increase of 6.54%. Net profit was Rs 25.23 crore as against Rs 16.80 crore, registering an increase of 50.24%. Traffic increased by 9.46% over the same period in the previous year. The Deoli-Kota Expressway, 332.16-lane km project, commenced partial commercial operations during the quarter recording revenue of Rs 3.89 crore for 37 days. The net loss is Rs 13.08 crore in this segment.
The three gas-based projects in the energy segment, which include 464 MW GVK Gautami Power Ltd and 235 MW Phase I & 220 MW Phase II projects of GVK Industries Ltd and one hydel power project of 330 MW Alaknanda Hydro Power Company Ltd, have recorded revenue of Rs 311.19 crore as against Rs 32.08 crore for the previous year. This improvement is mainly due to the commencement of commercial operation of Alaknanda Hydro Power Company Limited during the previous quarter.
The net loss is Rs 31.42 crore as against Rs 59.18 crore in the previous year.
Two gas-based plants with a capacity of 684 MW were not in operation due to stoppage of gas supply from KG basin.