Mumbai: GVK Power & Infrastructure Ltd on Tuesday posted a 19% fall in consolidated net profit to Rs32.73 crore in the quarter to June, hit by higher interest costs.
Still, net sales more than doubled to Rs330 crore from Rs130 crore a year ago as two power plants with 684 mega watts capacity started operations during the quarter, boosting revenue, the company said in a statement.
GVK, which operates the Mumbai airport, said interest and financial expenses surged to Rs30.67 crore from Rs7.94 crore a year ago. Other income during the quarter fell by more than half to Rs3.8 crore.
Power revenue grew more than three times to Rs290 crore, the company said in a statement to the Bombay Stock Exchange.
Shares in the firm ended flat at Rs44.50 in a Mumbai market that ended down 0.3%.