GVK Power net profit falls manifold to Rs 153.87 crore in Sep qtr

GVK Power and Infrastructure Limited (GPIL) on Friday posted a multifold fall in its consolidated net profit to Rs 153.87 crore during the September 2022 quarter due to higher expenses.

Its profit was Rs 2,395.01 crore in the July-September period of the preceding 2021-22 fiscal, the company said in a BSE filing.

The company's total income increased to Rs 1,012.05 crore from Rs 93.71 crore in the year-ago period.

Expenses soared to Rs 840.10 crore against Rs 182.24 crore a year ago.

GVK is a leading Indian conglomerate with diversified interests across various sectors, including energy, airports, transportation, hospitality and life sciences.