GVK Power & Infrastructure Limited (GVKPIL) has posted a net loss of Rs 20.58 crore for the quarter ended March 2012. The loss is 43 per cent higher than the loss of Rs 14.5 crore it had incurred during the same period previous year.
The company's income during the quarter stood at Rs 657.59 crore, as against Rs 744.55 crore in the fourth quarter of 2010-11.
For the year ended March 31, 2012, it posted a net profit of Rs 61.46 crore, a 60 per cent decline, as compared to the net profit of Rs 154.91 crore in the previous year.
The lower profits during the year have been attributed mainly to the restricted supply of gas for the power projects during certain times of the year, as a result of which the plants did not operate at full capacity, loss on account of foreign exchange fluctuations and higher interest cost.
CFO attains superannuation
GVKPIL's director and chief financial officer, A Issac George, has attained superannuation.
He would, however, continue to be on the board as a non-executive and non-independent director. Besides, he is being appointed as the chief executive officer of GVK's transport vertical, the company stated in a press release.