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GVK Power & Infrastructure Ltd has posted a profit of ₹23.14 crore for the fourth quarter ended March 31, 2018, against a loss of ₹205.85 crore for the corresponding quarter in the previous financial year on a standalone basis.
It posted total revenue of ₹28.22 crore (₹25.85 crore).
For the financial year ended March 2018, the company posted a loss of ₹36.08 crore and revenue of ₹92.14 crore against a loss of ₹271 crore and revenue of ₹79.67 crore for the previous fiscal.
The company has made investments and has receivables aggregating to ₹694.14 crore and has provided guarantees and commitments for loans amounting to ₹7,520 crore taken by GVK Coal.
The current liabilities exceeds current assets by ₹13,989 crore ($ 2151 billion). It has incurred a loss of $77 million about ₹501.89 crore.
Referring to its subsidiary GVK Energy, the company management said there has been uncertainty regarding supplies and availability of gas to power plants to GVK Industries and GVK Gautami Power, with both making losses. The lenders have classified these assets as non-performing assets.
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