GVK Power & Infrastructure reports total income of Rs. 698.76 Cr in Q2
GVKPIL registered a consolidated total income from operations of Rs. 698.76 Crore for the quarter ended Sep 30, 2014, as against Rs. 691.91 Crore during the corresponding quarter of the previous year.
GVKPIL’s consolidated net loss for the quarter ended Sep 30, 2014 is Rs. 235.56 Crore as against a net loss of Rs. 57.19 Crore in the corresponding quarter of the previous year.
The loss during the quarter was attributable mainly due to stoppage of supply of gas for two power plants and temporary stoppage of supply to one plant as a result of which the plants operated at very low capacity. The interest cost on the borrowing for the acquisition of stake in Mumbai and Bangalore Airport also has an impact on the consolidated profit.
GVK reported that Mumbai International Airport Private Limited recorded revenue of Rs. 580.67 Crore for the quarter ended Sep 30, 2014 as against that of Rs. 523.07 Crore for the corresponding quarter of the previous year registering an increase of 11.01 %.
The loss for the quarter ended Sep 30, 2014 is Rs. 68.87 Crore as against profit of Rs. 84.77 Crore in the corresponding quarter of the previous year. BIAL - Bangalore International Airport Limited recorded revenue of Rs. 234.36 Crore for the quarter ended Sep 30, 2014 as against Rs. 160.36 Crore for the corresponding quarter of the previous year registering an increase of 46.15%.
The net profit for the quarter ended Sep 30, 2014 is Rs. 5.57 Crore as against the profit of Rs. 38.62 Crore in the corresponding quarter of the previous year.
Meanwhile, GVK Jaipur Expressway Private Limited recorded revenue of Rs. 73.88 Crore for the quarter ended Sep 30, 2014 as against Rs. 67.80 Crore for the corresponding quarter of the previous year registering an increase of 8.96 % in the revenue in the quarter.
Net Profit for the quarter ended Sep 30, 2014 is Rs. 16.80 Crore as against Rs. 13.86 Crore in the corresponding quarter of the previous year registering an increase of 21.15 %. Traffic increased by 2.73% over the same period.
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