GVK Power & Infrastructure Q2 net profit plunges 23%

GVK Power & Infrastructure Q2 net profit plunges 23%
PTI
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First Published: Sat, Nov 01 2008. 12 16 AM IST
Updated: Sat, Nov 01 2008. 12 17 AM IST
Mumbai: GVK Power & Infrastructure reported a net profit of Rs30.47 crore for the second quarter ended 30 September, a decline of 22.88% from that in the corresponding period a year ago.
The company had a net profit of Rs39.51 crore for the second quarter last fiscal, GVK Power & Infrastructure said in a filing to the Bombay Stock Exchange (BSE).
Net sales rose to Rs109.49 crore for the quarter under review, from Rs96.05 crore for the same quarter quarter last year.
For the half year ended 30 September, the company had a net profit of Rs71.02 crore, against Rs61.09 crore for the same period previous year.
On the standalone basis GVK Power & Infrastructure posted a net profit of Rs4.76 crore, a 59% decline from Rs11.61 crore for the same period last fiscal.
On 30 September, GVK Power & Infrastructure has divested the entire holding in GVK Aviation Private its wholly owned subsidiary, accordingly GVK Aviation Private is no longer a subsidiary of the company, the filing added.
Shares of the GVK Power & Infrastructure closed steady at Rs11 on the BSE.
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First Published: Sat, Nov 01 2008. 12 16 AM IST