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KSK Energy Ventures Limited has posted a loss of Rs 83.8 crore on a consolidated basis for the fourth quarter ended March 31, 2014 as against a net profit of Rs 57.6 crore profit of the corresponding period last year.
The company income was higher by about 20 per cent at Rs 617.3 crore for the fourth quarter versus Rs 517.2 crore for the same period previous fiscal.
The company attributed the loss to high interest cost and higher operational expenses.
For the financial year ended March 31, 2014, the company posted a loss of Rs 162.8 crore an income of Rs 2111.8 crore as against a profit of Rs 150.5 crore and income of Rs 2207 crore for the previous financial year.
EGM Outcome on Preferential Offer
At an extraordinary general meeting (EGM) of the company held on May 24, it was decided to issue additional share capital to investors for an aggregate amount not exceeding Rs 1000 crore.
The company also approved preferential allotment of up to 15,00,00,000 warrants to KSK Energy Limited, a promoter company, either directly or through any of its affiliates or subsidiaries in India or outside India. KSK energy shares closed at Rs 99.50, down 10.80 per cent.
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