Quarterly Performance:

For the quarter ended June 11, the company has reported 25% Jump in the consolidated total income from operations at Rs 612.31 crore mainly aided by 26% increase in revenues from power segment at Rs 559.32 crore constituting 91% of the total revenues. On the other hand, roads business has also reported 14% increase in revenues at Rs 49.85 crore constituting 8% of the total revenues and other business slipped marginally by 1% to Rs 3.14 crore.

OPM slipped 190 bps to 22.8% mainly on the back of spike in the fuel cost as % of sales by 820 bps to 67.9%. Segment margins of power business also declined 60 bps to 12.3% in the quarter under review. On the flip side, segment margins of roads business improved by 1720 bps to 52.8%. The Operating profit was thus curtailed to 16% to Rs 139.66 crore. The other income has more than doubled to Rs 20.05 crore, up by 164% and led PBIDT up by 24% to Rs 159.71 crore.

The interest cost inched up by 5% to Rs 66.17 crore while that of depreciation remained flat at Rs 46.36 crore and led PBT up by 143% to Rs 47.18 crore. At segment level, profit from power business inched up 20% to Rs 68.64 crore and roads was up 70% to Rs 26.31 crore. Resultantly, PBT was up by 143% to Rs 47.18 crore. After accounting effective tax rate of 19.6%, up by 130 bps; PAT was up by 139% to Rs 37.94 crore.

The company has accounted 47% increase from share of profit from associates at Rs 33.67 crore and 138% jump in the Minority Interest at Rs 12.69 crore in the quarter under review. Thus Net Profit was up by 76% to Rs 58.92 crore.

Yearly Performance:

For the year ended March 11, the company has reported marginal 1% de growth in the consolidated Net profit at Rs 154.91 crore over 7% increase in the revenues at Rs 1914.66 crore. Revenues from the power segment has reported 7% growth to Rs 1712.93 crore and that of roads segment reported 11% growth to Rs 189.16 crore. The power segment has constituted 89.5% of the total revenues. At segment level, margins of power segment declined by 150 bps to 14.1% and that of roads segment inched up by 590 bps to 51.2%. Resultantly OPM grew by 70 bps to 26.4%.

Further other income declined by 2% to Rs 28.53 crore and that of Interest and depreciation cost increased by 22% to Rs 254.47 crore and 34% to Rs 183.64 crore respectively; leading PBT tumble by 33% to Rs 95.74 crore. After accounting 7% increase in the tax outgo of Rs 21.32 crore PAT was down by 40% to Rs 74.42 crore. Finally whooping rise in the share of profit from associates at Rs 110.93 crore and minority interest of Rs 30.44 crore, up by 60% on y-o-y basis has paved Net marginally down by 1% to Rs 154.91 crore.

• During the quarter, the Company has transferred its investment in GVK Jaipur Expressway Private Limited to its wholly owned subsidiary GVK Transportation Private Limited.
• The Scrip is hovering at Rs 17.55 on BSE.