GVK Power & Infrastructure has posted a loss of ₹45.43 crore for the third quarter ended December 31 against a loss of ₹57 crore for the corresponding period last year.

The diversified Hyderabad-based company, however, reported a higher income of ₹735 crore for the December quarter against ₹648.7 crore a year ago.

While the airports and roads divisions boosted the company’s performance, the power sector and interest outgo dragged down its numbers.

The airports division performed particularly well logging a revenue of ₹568.2 crore for the third quarter, up 58 per cent over ₹347.4 crore for the same period last year. The roads sector contributed ₹69.2 crore, up 8 per cent over ₹64.2 crore.

The power sector output was impacted by lack of fuel supplies to two of its gas plants. The revenue from the power division showed a steep fall to ₹97.7 crore during the third quarter against ₹237 crore in the year-ago period.

The interest cost on borrowings for the acquisition of stake in Mumbai and Bangalore airports impacted the consolidated profit.

For the nine-month period ended December 31, the company reported a revenue of ₹2,126.5 crore and a loss of ₹132.3 crore against a revenue of ₹2,107.6 crore and a loss of ₹164.96 crore.

During the quarter, GVK commissioned a new terminal at Bangalore and the T2 terminal at Mumbai airports. The company is in negotiations for stake sale in both airports and a couple of road projects, and expects to close them later this year. On Thursday, the company’s shares closed at ₹9.16, up 1 per cent, on the BSE.

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