Declines 17% in two-days on Rs 21-cr loss in Q4 v/s Rs 35-cr profit
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.
In view of rising farm input costs, the Agriculture Ministry has proposed a Rs 170 per quintal increase in the minimum support price (MSP) of paddy ...