GVK Power and Infra more than halved its losses to Rs 30 crore in Q1 (year-on-year) on better performance from airport segment and overall improvement in margins. The firm had posted Rs 64 crore loss in year-ago period.
Sales declined around 15 percent to Rs 699.5 crore as power business continues to hurt financials.
The firm's other income declined to Rs 26 crore as against Rs 36.5 crore. EBITDA margins improved 1500 bps to 38.6 percent Y-o-Y. However due to fuel scarcity issues, the firm’s power biz revenues slipped 80 percent to Rs 86.6 crore. The vertical’s EBIT loss stood at Rs 35.2 crore versus Rs 14.8 crore EBIT profit year-on-year.
The firm which runs Mumbai and Bangalore airports saw its airport segment profit almost treble to Rs 169 crore on Rs 548 crore revenues.
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