GVK Power & Infrastructure Ltd has posted a loss of Rs 13.41 crore for the second quarter ended September 30, 2016 against a loss of Rs 8.09 crore for the corresponding quarter last year on a standalone basis.

The diversified infrastructure company registered net sales income of Rs 7.13 crore during the second quarter against Rs 6.91 crore in the corresponding quarter previous fiscal.

In a regulatory filing, the company stated that its operations come within a single business segment “investment, operations, management and consultancy” of infrastructure projects and single geographical segment.

The company further stated that as of September 30, 2016, it had accumulated losses and has incurred losses during the preceding two years.

The Hyderabad-based company has delayed payment of loans and interest and certain loan accounts have been classified as non-performing by banks.

While the company has provided guarantees and commitments on behalf of various entities, it is faced with some uncertainties with regard to fuel supplies and issues relating to development of coal mines in an overseas project. It is also in the process of re-negotiation of terms of power purchase agreement for a coal-based plant.

The financial results of the company have been prepared on a going concern basis as the management believes that the company would be able to establish profitable operations, meet commitments, reduce debt by stake sale and the entities on whose behalf guarantees and commitments have been made.

GVK shares ended up by 0.86 per cent at Rs 5.87 on the BSE.