Power News We love to talk!
Shortage of fuel supply to gas-based power plants of GVK Power & Infrastructure Ltd resulted in a loss of Rs 30.59 crore for the first quarter ended June 30, against a loss of Rs 64.30 crore in the corresponding quarter of last year.
Total income from operations was lower at Rs 699.52 crore (Rs 818.55 crore).
The stoppage of gas supply to two of the three plants and reduced supply to another resulted in losses.
However, the airports and transportation verticals performed well. The Mumbai airport logged revenues of Rs 536.06 crore (Rs 326.83 crore), an increase of 64 per cent. The Bangalore airport has income of Rs 160.72 crore (Rs 153.17 crore), a growth of 5 per cent.
While the transportation business recorded revenues of Rs 63.78 crore (Rs 58.51 crore), the energy unit contributed only Rs 86.62 crore as against Rs 433.21 crore.
GVK Reddy, Chairman, said independent power producers are hoping for a miracle to happen to improve the functioning of fuel-starved gas-based plants.
The Alaknanda power has been delayed due to Uttarakhand floods; it is expected to be ready during the second half. The company shares closed at Rs 7.23 on Monday, up 12.27 per cent.
- Chennai oil spill: 20 days later, oil slick continues to tar Ennore port Read more
- Lower industrial power tariff implemented in Maharashtra Read more
- Bescom to introduce spot bill payment soon Read more
- Domestic energy prices could be freed, says FM Read more
- Haryana recovers power dues worth Rs. 46.38 crore Read more
- Private power developers urge govt to make changes in Case 1 bidding norms Read more
- Part privatisation of power distribution companies likely in Haryana Read more
- Tirupur will get uninterrupted power supply Read more
- Rajasthan discoms delaying late payment surcharge to wind power players Read more
- Farooq to launch solarrooftop plant scheme in Kerala Read more