GVK Power Q1 net up at Rs 59 cr

V. Rishi Kumar Hyderabad | Updated on August 06, 2011

GVK Power & Infrastructure Ltd (GVKPIL) has registered a net profit of Rs 58.92 crore for the first quarter ended June 30, 2011 against Rs 33.92 crore logged during the corresponding quarter last year on a consolidated basis.

Consolidated income was up at Rs 632.36 crore during the first quarter ended June 30, 2011 compared with Rs 497.45 during the corresponding quarter last year. EBIDTA at a consolidated level stood at Rs 140.47 crore (Rs 126.25 crore).

For the fiscal ended March 31, 2011, the company had registered total sales of Rs 1,914.66 crore and a net profit of Rs 154.91 crore.

Providing business highlights, the Chief Financial Officer, Mr A. Issac George, in a statement said that all the three gas projects were not able to operate at full capacity due to restricted supply of gas. The gas-based plants GVK Gautami Power (464 MW), 235 MW Phase-I and 220 MW Phase-II projects of GVK Industries Ltd, have recorded revenue of Rs 565.13 crore for the quarter ended June 30, 2011.

In other verticals, GVK Jaipur Expressway Pvt Ltd recorded an increase in revenue by 14.21 per cent. So was the case with Mumbai International Airport and Bangalore International airports, which registered a growth of 19.83 per cent and 17.16 per cent, respectively during the quarter over the corresponding period previous year.

Published on August 06, 2011

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