GVK Power & Infrastructure Ltd has posted a loss of Rs 20.88 crore during the fourth quarter ended March 31 against a profit of Rs 34.8 crore for the corresponding quarter last year on a consolidated basis.

The company management attributed this performance to poor gas supplies, high interest costs and forex exchange rate fluctuations.

However, sales were up 45 per cent at Rs 657 crore for the quarter against Rs 453.13 crore for the corresponding quarter last year.

The company registered a consolidated net profit of Rs 61.46 crore for the year ended March 31, down 60 per cent against Rs. 154.91 crore for the previous year.

The consolidated income was up 30 per cent at Rs 2491.83 crore for the year against Rs 1914.66 crore for the year before.

The three gas-based power projects recorded revenue of Rs 1666.31 crore for the year against Rs 1713.11 crore for the previous year.

Mumbai International Airport Private Ltd recorded operating revenue of Rs 1308.53 crore for the year against Rs 1175.53 crore, up 11 per cent. Bangalore International Airport Ltd recorded revenue of Rs 605.68 crore (Rs 538.20 crore) an increase of 13 per cent.

GVK Jaipur Expressway Private Ltd recorded operating revenue of Rs 223.84 crore for the year (Rs 189.16 crore) up 18 per cent.

The board of directors took on record the superannuation of Mr A. Issac George, Director and CFO of the company. He will serve as a Non-Executive and Non-Independent Director.

He will continue as CEO of GVK transport vertical.

The company shares closed down nine per cent at Rs 12.80.

> vrishi@thehindu.co.in

Related Topics