GVK Power and Infrastructure has posted a net loss of Rs. 57.19 crore for the quarter ended September 30, 2013, as against a loss of Rs. 43.66 crore in the corresponding period last year. The total revenue for the quarter stood at Rs. 691.19 crore as against Rs. 640.34 crore in the year-ago period.
The company has attributed the net loss to the shortage of gas supply as a result of which the plants operated at very low capacity.
The consolidated profit was also impacted by the interest cost on the borrowing for the acquisition of stake in Mumbai and Bangalore airports.
The short supply of gas from KG basin has reduced the revenue of the company to Rs. 96.09 crore from Rs. 267.89 crore in the corresponding quarter last year.
The company’s revenue from Mumbai International Airport has increased to Rs. 523.07 crore for the quarter from Rs. 314 crore in the corresponding quarter. The net profit was up by 220 per cent at Rs. 84.77 crore.
The revenue from Bangalore International Airport was Rs. 160.36 crore as against Rs. 149.45 crore for the corresponding quarter of the previous year. The net profit was up by 131 per cent at Rs. 38.62 crore.
JP Associates
Infrastructure firm J P Associates posted over 46 per cent drop in its net profit at Rs. 68 crore for the July-September quarter of this year due to higher finance costs.
It reported a net profit of Rs. 128 crore in the same quarter last fiscal. The finance costs of the company rose to Rs. 654 crore from Rs. 464 crore in the year ago period. It also reported “other income” of Rs. 125 crore for the reporting quarter compared to just Rs. 15 crore a year ago. Total income of the company rose to Rs. 3,176 crore from Rs. 3,011 crore in the year-ago period.
Bombay Dyeing
Bombay Dyeing & Manufacturing Company reported a net loss of Rs. 62.19 crore for the second quarter ended September 30, 2013, against a net loss of Rs 27.74 crore during the same period of previous fiscal. Net sales, however, rose marginally to Rs. 494.55 crore during the second quarter, compared to Rs. 494.22 crore during the same period of previous fiscal.
Natco Pharma
Natco Pharma has posted a 28 per cent rise in consolidated net profit at Rs. 26.92 crore for the second quarter ended September 30, 2013.
It had posted a net profit of Rs. 20.99 crore during the July-September quarter of the previous fiscal.
Net sales of the company, however, declined to Rs. 162.91 crore during the second quarter compared to Rs. 169.16 crore in the year-ago period.
