GVKPIL net loss deepens to Rs 57 cr

GVK Power & Infrastructure Limited (GVKPIL’s) reported nearly 300 per cent rise in consolidated net loss for the quarter ended December 2012 to Rs 57 crore as against a net loss of Rs 14.50 crore in the corresponding quarter of the previous year. It registered an income from operations of Rs 648.68 as against Rs 744.55 crore in the same period. The company attributed the loss during the quarter mainly to the restricted supply of gas for the power projects as a result of which the plants did not operate at full capacity, interest cost and write-off of receivables.