GVK Power and Infrastructure Ltd has posted a loss of INR 64.30 crore for the first quarter ended June 30 against a profit of INR 58.92 crore for the corresponding quarter last year.

The profitability was impacted by the drop in fuel supply to its gas-based plants impacting generation, loss on account of foreign exchange fluctuations and high interest costs. However, the company’s consolidated revenue for the first quarter was up 33.7% at INR 818.55 crore against income of INR 612.31 crore.

The profit was up at INR 199.95 crore against INR 140.47 crore, recording an increase of 42.3% before provisions.

The three gas-based power plants recorded lower revenue of INR 433.21 crore for the quarter against INR 559.32 crore for the corresponding quarter last year. The GVK Jaipur Expressway generated revenue of INR 58.51 crore (INR 49.85 crore) and the traffic increased by eight per cent.

Source - Business Line

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