Wednesday, 13 August 2014

GVK Power Q1 loss windens to Rs 281 crore on disposal assets.

   

     GVK Power and Infrastructure has reported a loss of Rs 281.3 crore in April-June quarter, increased from Rs 30.6 crore in the year-ago period due to loss on disposal of assets during the quarter. Even higher depreciation and amortisation cost, interest cost and other expenses impacted profitability.
     The loss of Rs 286.8 during the quarter was due to demolition of old terminal at Mumbai airport, said the company in its filing.
     Consolidated net sales of the company grew 1.9 percent to Rs 712.7 crore in the quarter ended June 2014 from Rs 699.5 crore in same quarter last year supported by airports and roads degments.
   
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