GVK consolidated net loss at Rs 304 cr for FY19, yet to fix divestment bid

The company's consolidated total income declined 10.36 per cent to Rs 4363.10 crore for the year ended March 2019 from Rs 4867.43 crore in the previous year while the expenditure remained almost flat

GVK group’s holding company GVK Power and Infrastructure (GVK PIL) on Friday reported a consolidated net loss of Rs 304.42 crore for the year ended March 31. It had registered a loss of Rs 537.37 crore in the previous year.

The decline was due to the absence of losses from jointly controlled entities in the year under review as compared to the previous year, the company’s statement stated. GVK group has been presenting the consolidated numbers only at the end of financial year with the approval of the Ministry of Corporate Affairs.

Its standalone net profit in the March quarter