GVK Power and Infrastructure reported a consolidated net loss of Rs 14.50 crore in the third quarter ended December led by shortage of gas supply to its power plants, interest expenses and forex fluctuations. The company had made net profit of Rs 41.91 crore in the October-December quarter of 2010-11.
The company registered 62% growth in consolidated income at Rs 745 crore for the quarter ended December 31, 2011, as against Rs 461 crore in the Q3 of the previous fiscal.
The lower profit is mainly on account of interest due on loans taken for acquisition of interest in airports. Interest expenses for the quarter stood at Rs 143.56 crore, as against Rs 64.66 crore.
Forex losses stood at Rs 9 crore in the third quarter against Rs 5 crore in the second quarter. It was almost negligible in Q3FY11.
Company Name | CMP |
---|---|
NTPC | 351.50 |
Tata Power | 411.30 |
Power Grid Corp | 306.30 |
Adani Power | 594.80 |
Torrent Power | 1320.00 |
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