GVK Power and Infrastructure Limited (GVK PIL) witnessed a 45 per cent increase in net profit at Rs 155.87 crore for the full year ended March 2010, as compared with Rs 107.56 crore a year ago. Revenues were up over three-fold at Rs 1,816.19 crore, as against Rs 533.96 crore. The company did not disclose the fourth quarter results.
“Two of the company’s power projects became operational during FY10. One went on stream for nine months and the other for the whole year, which made significant contributions to the revenues and profits,” said GVK Power chief financial officer Isaac George.
The company said in a press release on Thursday that all the three gas-based projects – the 464-Mw GVK Gautami Power Limited and the 235-Mw Phase-I and 220-Mw Phase-II projects of GVK Industries Limited – were currently operating with natural gas on full capacity.
GVK Power’s wholly-owned subsidiary Jaipur Expressway Private Limited recorded a 17 per cent rise in revenues for the year ended March 30, 2010, as compared with the previous year. Mumbai International Airport Private Limited registered an increase of 9 per cent in traffic during the period.