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GVK Power & Infrastructure Limited announces Q2 consolidated financial results
Hyderabad, Nov 10 (IBNS): GVK Power & Infrastructure Limited (GVKPIL) on Tuesday announced its unaudited consolidated financial results for the quarter ended Sep 30, 2015 after its financial results were taken on record by the Board of Directors at its meeting.
GVKPIL registered a consolidated total income from operations of Rs. 1,068.32 Crore for the quarter ended Sep 30, 2015, as against Rs. 698.76 Crore during the corresponding quarter of the previous year recording an increase of 52.9%.
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%.
EBIDTA margin at consolidated level improved to 47.2% as compared to 38.1% in previous year. Net loss at consolidated level for the quarter ended Sep 30, 2015 is Rs. 123.50 Crore as against Rs. 235.56 Crore in the corresponding quarter of the previous year.
"The losses for the quarter are attributable 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 of which the plants did not operate at full capacity and higher interest cost on acquisition loans," a comapny statement said.
MIAL-Mumbai International Airport Private Limited recorded revenue of Rs. 636.17 Crore for the quarter ended Sep 30, 2015 as against that of Rs. 580.67 Crore for the same period in the previous year registering an increase of 9.6%. Net loss for the quarter ended Sep 30, 2015 is Rs. 11.53 Crore as against net loss of Rs. 68.87 Crore in the corresponding quarter of the previous year.
BIAL – Bangalore International Airport Limited recorded a revenue of Rs. 278.40 Crore for the quarter ended Sep 30, 2015 as against Rs. 234.36 Crore for the previous year registering an increase of 18.8%. EBIDTA margin improved to 70.7% as compared to 66.3% in the previous year. Net adjusted profit for the quarter ended Sep 30, 2015 is Rs. 100.63 Crore as against Rs. 5.57 Crore for the previous year.
PT GVK Services - PT GVK Services, BALI has recorded revenue of Rs. 25.59 Crore for the quarter ended Sep 30, 2015 as against Rs. 12.11 Crore for the previous year registering an increase of 111.31%.
GVK Jaipur Expressway Private Limited recorded revenue of Rs. 78.71 Crore for the quarter ended Sep 30, 2015 as against Rs.73.88 Crore for the previous year registering an increase of 6.54%. Net profit for the quarter ended Sep 30, 2015 is Rs.25.23 Crore as against Rs. 16.80 Crore in the previous year registering an increase of 50.24%. Traffic increased by 9.46% over the same period in the previous year.
Deoli-Kota Expressway, 332.16 lane km project, commenced partial commercial operations during the quarter on 25th Aug, 2015 . It recorded revenue of Rs. 3.89 Crore for 37 days in the quarter ended Sep 30, 2015. Net loss for the quarter ended Sep 30, 2015 is Rs.13.08 Crore
The three gas based projects i.e. 464 MW GVK Gautami Power Limited and 235 MW Phase I & 220 MW Phase II projects of GVK Industries Limited and one Hydel power project i.e. 330 MW Alaknanda Hydro Power Company Limited have recorded revenue of Rs. 311.19 Crore for the quarter ended Sep 30, 2015 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. Net loss for the quarter ended Sep 30, 2015 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," the statement stated.
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