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  • GVK Power & Infrastructure Limited Cuts losses by 20% Consolidated Financial Results for the Q3 of 2013-14

    Published on February 6, 2014

    Hyderabad: GVK Power & Infrastructure Limited (GVKPIL) today announced its unaudited gvkbioconsolidated Financial Results for the quarter ended December, 2013 after its financial results were taken on record by the Board of Directors at its meeting held today.

    Financial Highlights

    GVKPIL registered a consolidated total income from operations of Rs.735.09 Crores for the quarter ended December 31, 2013, as against Rs. 646.68 Crore during the corresponding quarter of the previous year.

    GVKPIL’s consolidated net loss for the quarter ended December 31, 2013 is Rs. 45.43 Crore as against a net loss of Rs.57 Crore in the corresponding quarter of the previous year. 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.

    Operational Highlights

    Airports

    MIAL – Mumbai International Airport Private Limited recorded revenue of Rs. 547.39 Crore for the quarter ended December 31, 2013 as against that of Rs. 347.39 Crore for the corresponding quarter of the previous year registering an increase of 58 %. Net Profit for the quarter ended December 31, 2013 is Rs. 91.51 Crore as against Rs.41.74 Crore in the corresponding quarter of the previous year registering an increase of 119%.

    BIAL – Bangalore International Airport Limited recorded revenue of Rs. 162.10 Crore for the quarter ended December 31, 2013 as against 153.07 Crore for the corresponding quarter of the previous year registering an increase of 6%. Net Profit for the quarter ended December 31, 2013 is Rs. 46.59 Crore as against Rs.21.50 Crore in the corresponding quarter of the previous year registering an increase of 117%.

    Transportation

    GVK Jaipur Expressway Private Limited recorded revenue of Rs. 69.22 Crore for the quarter ended December 31, 2013 as against Rs. 64.21 Crore for the corresponding quarter of the previous year registering an increase of 8% in the revenue in the quarter. Net Profit for the quarter ended December 31, 2013 is Rs. 15.72 Crore as against Rs. 7.94 Crore in the corresponding quarter of the previous year registering an increase of 98%. Traffic increased by 5 % over the same period.

     

     

     

    Energy

    The three gas based projects i.e. 464 MW GVK Gautami Power Limited and 235 MW Phase I & 220 MW Phase II projects of GVK Industries Limited have recorded revenue of Rs. 97.66 Crs for the quarter ended December 31, 2013 as against Rs.237.08 Crore for the corresponding quarter of the previous year. This reduction is mainly due to stoppage of Gas supply from KG basin to two gas plants and reduced gas supply to one plant.

    Other Highlights

    During the quarter ended Dec 31, 2013, the Company

    GVK has won the “Best Construction Engineering Firm” at the 6th India Power Awards 2013

    India’s tallest ATC Tower with a height of 83.8 metre has been inaugurated at GVK CSIA, Mumbai that will enable the tower controllers to have unobstructed view of the entire operational area and help in optimizing air traffic separation and increase the traffic handling capacity at CSIA

    The ATC Tower at GVK CSIA has received the prestigious ‘Outstanding Concrete Structure’ award for the year 2013

    GVK’s Bengaluru International Airport has been renamed as Kempegowda International Airport, Bengaluru and the new Terminal has been inaugurated which has been elevated in design, exteriors, facilities and infrastructure

    GVK CSIA has been awarded ‘Best Airport’ by Air Cargo Agents Association of India (ACAAI) and Kale Logistics for the second consecutive year.

    GVK KIA, Bengaluru has received the Gold rating in Leadership in Energy and Environmental Design (LEED) India from Indian Green Building Council (IGBC).

    GVK KIA has won the ‘Most Innovative Environmental Best Practice Award – 2013’ at CII-Environmental Best Practices Awards.

    GVK KIA has successfully upgraded its Airport Carbon Accreditation certification to Level 3 ‘Optimisation’ of the programme

    GVK’s Kevin’s Corner Project has received Federal Government Approval under The Environment Protection and Biodiversity Conservation Act 1999 (EPBC)

    GVK Hancock and Aurizon have reached a major milestone towards signing the proposed galilee basin rail and port transaction

    GVK has received the Australian Federal Government’s approval for its Abbot Point Port Capital Dredging programme, finalising Ministerial environmental approvals for its Galilee Basin coal assets and associated infrastructure

    GVK EMRI has further expanded its reach in India by extending its response services to the state of Kerala.

    GVK EMRI has been conferred with Skoch Platinum Award under the health category for Corporate Excellence and outstanding contribution to the cause of Nation Building.

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