GVKPIL total income up 34.14pc
Infrastructure developer GVK Power and Infrastructure Limited (GVKPIL) on Saturday announced its unaudited consolidated Financial Results for the quarter ended Sept, 30,2012 after its financial results were taken on record by the Board of Directors at its meeting.
GVKPIL registered a consolidated total income from operations of Rs. 640.35 Crore for the quarter ended Sept 30, 2012, as against Rs.477.38 Crore during the corresponding quarter of the previous year recording an increase of 34.14pc .
EBIDTA at a consolidated level for the quarter stood at Rs. 242.03 Crore as against Rs. 143.77 Crore in the corresponding quarter of the previous year recording an increase of 68.35pc .
GVKPIL's consolidated net loss for the quarter ended Sept 30, 2012 is Rs.43.66 Crore as against a net profit of Rs.37.92 Crore in the corresponding quarter of the previous year.
The loss during the quarter was attributable mainly to the interest paid on debt raised for acquisition of equity stake in Bombay and Bangalore Airport projects taken on books during the quarter, otherwise the results would have been exemplary, said the company.
Another reason for the loss was restricted supply of gas for the power projects as a result of which the plants did not operate at full capacity, it said.