Hyderabad: Consolidated net loss of GVK Power and Infrastructure Ltd for the quarter to December widened to Rs 209.12 crore.
It was hit by fuel supply issues and higher interest costs. The firm had reported a net loss of Rs 45.43 crore in the corresponding period a year ago, GVK said in a statement. This was the 13th straight quarter of losses for the infra major.
The firm registered a consolidated total income from operations at Rs 791.92 crore for the quarter under review, up from Rs 735.09 crore in the year-ago period. MIAL – Mumbai International Airport Pvt Ltd – registered 35-crore loss during the quarter as against a profit of Rs 91.51 crore in the same period last year.
It said, “The loss during the quarter was attributable mainly due to stoppage of supply of gas for two power plants and reduced 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.” The airport recorded revenue of Rs 601.86 crore for the quarter as compared with Rs 547.39 crore in the Q3 of the previous year.
