GVK Power's Q3 Net loss at Rs 209.12 crore

GVK Power and Infrastructure Ltd today said its consolidated net loss for the quarter to December widened to Rs 209.12 crore, hit by fuel supply issues and higher interest costs.
The company had reported a net loss of Rs 45.43 crore in the corresponding period a year ago, GVK said in a statement.
This was the 13th straight quarter of losses for the infra major.
The company registered a consolidated total income from operations at Rs 791.92 crore for the quarter under review, up from Rs 735.09 crore in the year-ago period.
"The loss during the quarter was attributable mainly due to stoppage of supply of gas for two power plants and reduced supply to one plant as a result of which the plants operated at very low capacity. The interest cost on the borrowing for the acquisition of stake in Mumbai and Bangalore Airport also has an impact on the consolidated profit," it said.

MIAL - Mumbai International Airport Pvt Ltd - registered 35-crore loss during the quarter as against a profit of Rs 91.51 crore in the same period last year.

The airport recorded revenue of Rs 601.86 crore for the quarter as compared with Rs 547.39 crore in the Q3 of the previous year.
BIAL - Bangalore International Airport Ltd - recorded 10 crore net profit during the quarter as against Rs 45.6 crore during the same quarter last year. Its revenue jumped 49.73 per cent at Rs 242.72 crore in the quarter under discussion against Rs 162.10 crore in the same quarter a year ago.

The three gas-based projects - 464 MW GVK Gautami Power Ltd and 235 MW Phase I and 220 MW Phase II projects of GVK Industries Ltd - have recorded revenue of Rs 80.17 crore for the quarter ended December 31, 2014 as against Rs 97.66 crore for the corresponding quarter of the previous year.
The dip was mainly due to stoppage of gas supply from KG basin to two gas plants and temporary stoppage of supply to one plant, it added.