Companies

GVK Power posts Rs 123.5 cr loss in Q2

V Rishi Kumar Hyderabad | Updated on January 22, 2018 Published on November 10, 2015

Revenue up 53 per cent

GVK Power & Infrastructure Ltd (GVKPIL) has brought down its net loss to Rs 123.50 crore for the second quarter ended September 30, 2015 on a consolidated basis  as against Rs 235.56 crore in the corresponding quarter of the previous year. The losses for the quarter are attributable mainly to the restricted supply of gas for Jegurupadu Phase I and nil supply to Jegurupadu Phase II and Gautami Power Plant as a result of which the plants did not operate at full capacity and higher interest cost on acquisition loans.

GVKPIL registered a consolidated total income of Rs 1,068.32 crore for the quarter ended September 30, 2015, as against Rs 698.76 crore during the corresponding quarter of the previous year recording an increase of 52.9 per cent. EBIDTA at a consolidated level for the year stood at Rs 504.22 crore as against Rs 266.22 crore in the previous year recording an increase of 89.4 per cent.

Mumbai International Airport Pvt Ltd (MIAL) recorded revenue of Rs 636.17 crore for the second quarter as against Rs 580.67 crore for the same period in the previous year registering an increase of 9.6 per cent. Net loss for the quarter was Rs 11.53 crore as against net loss of Rs 68.87 crore in the corresponding quarter of the previous year.

Bangalore International Airport Ltd (BIAL) recorded a revenue of Rs 278.40 crore for the quarter as against Rs 234.36 crore for the previous year registering an increase of 18.8 per cent. EBIDTA margin improved to 70.7 per cent as compared to 66.3 per cent in the previous year. Net adjusted profit for the quarter was Rs 100.63 crore as against Rs 5.57 crore for the previous year.

PT GVK Services, BALI has recorded revenue of Rs 25.59 crore for the quarter as against Rs 12.11 crore for the previous year registering an increase of 111.31 per cent.Under the transportation business, GVK Jaipur Expressway Pvt Ltd recorded revenue of Rs 78.71 crore for the quarter as against Rs 73.88 crore for the previous year registering an increase of 6.54 per cent.

Net profit for the quarter was Rs 25.23 crore as against Rs 16.80 crore in the previous year, an increase of 50.24 per cent.Deoli-Kota Expressway, a 332.16 lane km project, commenced partial commercial operations during the quarter on August 25, 2015 and recorded revenue of Rs 3.89 crore for 37 days in the quarter ended September 30, 2015.

The three gas based projects--464 MW GVK Gautami Power Ltd and 235 MW Phase I & 220 MW Phase II projects of GVK Industries Ltd and one Hydel power project--330 MW Alaknanda Hydro Power Co Ltd have recorded revenue of Rs 311.19 crore for the quarter as against Rs 32.08 crore for the previous year.

This improvement is mainly due to the commencement of commercial operation of Alaknanda Hydro Power Co Ltd during the previous quarter. Net loss for the quarter ended is Rs 31.42 crore as against Rs 59.18 Crore in the previous year.Two Gas based plants with a capacity of 684 MW were not in operation due to stoppage of gas supply from KG basin.

Published on November 10, 2015
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