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  1. GVKPIL losses widen to Rs 279 crore

GVKPIL losses widen to Rs 279 crore

Infrastructure major GVK Power & Infrastructure (GVKPIL) has posted a net loss of R279.06 crore in the December quarter as against a loss of Rs 209.12 crore for the corresponding quarter last year on a consolidated basis.

By: | Hyderabad | Published: February 13, 2016 1:43 AM

Infrastructure major GVK Power & Infrastructure (GVKPIL) has posted a net loss of R279.06 crore in the December quarter as against a loss of Rs 209.12 crore for the corresponding quarter last year on a consolidated basis.

The company registered a total income of Rs 1,015.96 crore in the quarter as against Rs 791.92 crore in the same quarter last year, recording an increase of 28.3%.

“The losses for the quarter can be attributed mainly to lower generation of power at Alaknanda Hydro power plant due to reduced water flow and non-fixation of tariff. Further there was restricted supply of gas for Jegurupadu Phase I, Jegurupadu Phase II, and higher interest cost on acquisition loans,” the company said in a statement.

Giving a breakup of revenues, the company said that Mumbai International Airport Private (MIAL) recorded a revenue of R694.66 crore during the quarter as against R601.86 crore in the year-ago period, registering an increase of 15.4%. Net loss for the quarter stood at R15.92 crore in the December quarter.

The Bangalore International Airport (BIAL) recorded a revenue of R289.68 crore during the quarter under review as against R242.72 crore last year, registering an increase of 19.3%. PT GVK Services, Bali, has recorded revenue of R25.78 crore as against R33.34 crore for the previous year.

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