GVK Power & Infra narrows losses to Rs 124 crore on better airport biz

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Hyderabad | Published: August 14, 2015 1:07:43 AM

GVK Power & Infrastructure has narrowed net loss to Rs 123.92 crore in the June quarter on back of a better operational performance...

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%.

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