Quarterly Performance:

GVK power and infrastructure has reported healthy 56% increase in the total income from operations at Rs 744.55 crore in the quarter ended December 11 with inclusion of revenues from Airports segment at Rs 270.89 crore. The Power business continued to hold major share at 55% of revenues and reported de growth of 1% to Rs 411.35 crore. Lower growth in the power revenues were attributed to restricted gas supply for its power plants there by operating below operating capacity. On the other hand, Revenues from roads grew 4% to Rs 58.79 crore and constituted 8% of the total revenues.

On the segment front, segment margins of power segment slipped 680 bps to 10% and that of roads jumped up 900 bps to 58.9%. The segment margins from Airports stood at 21% in the quarter under review. OPM slipped to 28.3% and led Operating profit up 47% to Rs 210.76 crore. The other income leaped up 44% to Rs 19.99 crore and led PBIDTA up 46% to Rs 230.75 crore.

Surge in the interest cost by 82% to Rs 143.56 crore on the back of higher interest rates and forex fluctuations and 68% jump in depreciation to Rs 78.31 crore has pulled down PBT by 72% to Rs 8.88 crore. At segment level, profit from power division fell 41% to Rs 40.93 crore while that of roads grew 22% to Rs 34.64 crore and Airports was at Rs 56.98 crore. Profits from Airport business has taken major share of the total profit at 43% followed by 31% from power business and 26% from roads business.

Further, 70% jump in tax expenses at Rs 27.74 crore coupled with 17% dip in share of profit from associates at Rs 25.53 crore and huge 145% jump in the MI at Rs 21.17 crore has pulled profitability to red at Rs 14.50 crore in the quarter under review.

YTD performance:

For the nine months ended December 11, the company has reported 26% increase in the total income from operations at Rs 1834.24 crore while Net Profit declined 31% to Rs 82.34 crore.