GVK Power Q2 loss widens to Rs77 crore
New Delhi: GVK Power and Infrastructure on Saturday reported a net loss of Rs76.94 crore for the quarter ended 30 September 2017. The company had posted a net loss of Rs13.41 crore in the corresponding period a year ago, GVK Power and Infrastructure said in a regulatory filing to stock exchanges.
Total revenue during the quarter rose to Rs20.16 crore as compared to Rs18.55 crore, it said.
In a separate filing, GVK Power and Infrastructure said its board has accepted the resignation of GVK Reddy as managing director of the company. He, however, will continue on the board as a non- executive chairman, it said.
The board also approved appointment of P.V. Prasanna Reddy as whole-time director of the company for a period of three years from 11 November 2017 without any remuneration.