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GVK Power and Infrastructure Ltd has posted a loss of Rs 64.30 crore for the first quarter ended June 30 against a profit of Rs 58.92 crore for the corresponding quarter last year.
The profitability was impacted by the drop in fuel supply to its gas-based plants impacting generation, loss on account of foreign exchange fluctuations and high interest costs.
However, the company’s consolidated revenue for the first quarter was up 33.7 per cent at Rs 818.55 crore against income of Rs 612.31 crore.
The profit was up at Rs 199.95 crore against Rs. 140.47 crore, recording an increase of 42.3 per cent before provisions.
The three gas-based power plants recorded lower revenue of Rs 433.21 crore for the quarter against Rs 559.32 crore for the corresponding quarter last year. The GVK Jaipur Expressway generated revenue of Rs 58.51 crore (Rs 49.85 crore) and the traffic increased by eight per cent.
While the Mumbai airport recorded a revenue of Rs 326.83 crore (Rs 321.06 crore) up 1.8 per cent, the Bangalore airport recorded Rs 153.17 crore (Rs 148.66 crore), up 3.3 per cent.
The company’s shares reacted negatively to close at Rs 12.83, down 5.10 per cent on the BSE.
> rishikumar.vundi@thehindu.co.in
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