GVK Power & Infrastructure Ltd has posted a loss of Rs 235.57 crore for the second quarter on a consolidated basis as against a loss of Rs 57.19 crore for the corresponding period last financial year.
The company revenue for the second quarter was Rs 698.76 crore as against Rs 691.91 crore for the same period last year.
The airports business registered income of Rs 592.50 crore for the second quarter ( Rs 528.85 crore), the roads business logged Rs 73.88 crore (Rs 70.54 crore ) and power sector Rs 32.08 crore (Rs 96.09 crore).
The loss during the quarter was attributable mainly due to stoppage of supply of gas for two power plants and temporary stoppage of supply to one plant as a result of which the plants operated at very low capacity. The interest cost on the borrowing for the acquisition of stake in Mumbai and Bangalore Airport also has an impact on the consolidated profit.
Mumbai International Airport Private Limited recorded revenue of Rs 580.67 crore for the quarter (Rs 523.07 crore), an increase of 11.01 per cent. It posted a loss of Rs 68.87 crore as against a profit of Rs 84.77 crore. Bangalore International Airport Limited recorded revenue of Rs 234.36 crore (Rs 160.36 crore), up 46.15 per cent. It posted a net profit of Rs 5.57 crore as against a profit of Rs 38.62 crore.
The three gas based projects--464 MW GVK Gautami Power Limited and 235 MW Phase I & 220 MW Phase II projects of GVK Industries Limited have recorded revenue of Rs 32.08 crore for the quarter as against Rs 96.09 crore. This reduction is mainly due to stoppage of Gas supply from KG basin to two gas plants and temporary stoppage of gas supply to one plant.