GVKPIL Consolidated income up at Rs 115.50 cr during Q2

Hyderabad, Oct 31 (UNI) GVK Power and Infrastructure Limited (GVKPIL) registered a total income of Rs 115.50 crore during the quarter ended September 30, 2008, as against Rs 108.25 crore during the corresponding quarter of the previous year, an increase of over 6 per cent.

The Power segment revenues touched Rs 70.29 crore during the quarter Q2 in comparison to Rs 59.07 crore during the corresponding quarter of the previous year, an increase of 19 per cent. During the half year ended September 30, 2008, the segment contributed revenue of Rs 165.44 crore as against Rs 151 crore during the corresponding period of the previous year, an increase of 10 per cent.

Roads registered a 6 per cent increase of revenue at Rs 36.07 crore during the quarter as against Rs 34.11 crore in the corresponding quarter of the previous year. In the half year, revenue from roads surged to Rs.70.90 crore from Rs.65.21 crore during the corresponding period of the previous year, an increase of 9 per cent.

Airport Revenues were higher at Rs 233.92 crore as against Rs 210.93 crore in the corresponding quarter of the previous year an increase of 11 per cent. For the half year ended 30th September 2008, the revenues were Rs 477.18 Crores as compared to Rs 384.21 crore in the previous half year, an increase of 24 per cent, according to a release here today.

The net profit for the quarter was Rs 30.47 crore, as compared to Rs.39.51 crore for the corresponding quarter of the previous year.

The reduction in profits was attributed to reduction in other income and an increase in expenditure as a result of increased power costs, higher payroll costs and provisioning for pay revisions inline with the pay commissions recommendation.

GVKPIL registered a total income of Rs 256.83 crore during the half year ended September 30, 2008, as against Rs 241.57 crore during the corresponding quarter of the previous year, an increase of over 6 per cent.

The net profit for the half year stood at Rs 71.02 crores as against Rs 61.09 crores in the half year of the previous year, the release added.

UNI BR ROY ADB1955