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GVK Power dips on weak Q4 earnings

Declines 17% in two-days on Rs 21-cr loss in Q4 v/s Rs 35-cr profit

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GVK Power & Infrastructure has dipped 9% at Rs 11.65, extending its Wednesday’s 9% fall on reporting a consolidated net loss of Rs 20.88 crore during the fourth quarter ended March 31, due to poor gas supplies, high interest costs and forex exchange rate fluctuations. The company had a net profit of Rs 34.80 crore in the year ago quarter.

However, income from operation grew 45% at Rs 666 crore on year-on-year basis. The interest burden of the Hyderabad-based company has increased by almost three-times to Rs 169 crore from Rs 63 crore during the recently concluded quarter.

The trading volumes on the counter almost doubled, with a combined 20.93 million shares have already changed hands so far, against an average sub 12 million shares that were traded daily in past two weeks on both the exchanges.

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