Lower gas supplies for power plants in Andhra Pradesh has impacted the net profit of GVK Power & Infrastructure Ltd, during the second quarter ended September 30.
The company has registered a marginally lower net profit of Rs 37.92 crore on a consolidated basis for the second quarter as against Rs 42.81 crore for the corresponding quarter last year.
The Hyderabad-based diversified company registered a consolidated total income of Rs 491.27 crore for the second quarter as against Rs 506.48 crore during the same period last year.
The EBIDTA at a consolidated level for the quarter was Rs 145.19 crore as against Rs 145.45 crore in the same period last year.
Mr Issac George, Director and Chief financial Officer, GVKPIL, in a statement said that the lower profit after tax was attributable to the restricted supply of gas for the power projects as a result of which the plants did not operate at full capacity.
The three gas-based projects, the 464-MW Gauthami, the 235-MW phase I and 220-MW phase II at Jegurupadu have recorded revenues of Rs 416.85 crore for the September quarter.
GVK Jaipur Expressway recorded 22.2 per cent increase in revenue. The Mumbai International Airport and Bangalore International Airport registered an increase of 20 per cent and 19.9 per cent in revenue respectively for the September quarter compared to corresponding period last year.