Hyderabad-based GVK Power & Infrastructure Limited (GVKPIL) reported an 11.42 per cent decline in net profit to Rs 37.92 crore for the quarter ended September 30, 2011, as compared with Rs 42.81 crore in the corresponding quarter last year. Total income for the three-month period declined 3 per cent to Rs 491.27 crore from Rs 506.48 crore in the comparable quarter year ago.
The company attributed the decline in net profit to the restricted supply of gas for the power projects.
Of the total revenues, it earned Rs 416.85 crore from three gas power projects while just Rs 74.42 crore came from other operations, including roads and airports. The company said its subsidiaries GVK Jaipur Expressway Private Limited recorded an increase of 22.2 per cent in revenues and both Mumbai International Airport Private Limited and Bangalore International Airport Limited registered an increase of 19.9 per cent.
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