 "GVK Power Q4 net loss widens at Rs 407 crore")
GVK Power and Infrastructure's standalone net loss increased to Rs 51.04 crore for the first quarter ended June 30, 2016.
"The company has posted a net loss of Rs 51.04 crore for the quarter ended June 30, 2016 as compared to Rs 3.09 crore for the quarter ended June 30, 2015," GVK Power and Infrastructure said in a BSE filing.
According to the statement, total income increased from Rs 15.88 crore for the quarter last year to Rs 16.85 crore for the quarter ended June 30, 2016.
The firm has made investments and receivables aggregating Rs 295.04 crore and provided guarantees and commitments for loans amounting to Rs 7,843.34 crore taken by GVK Coal Developers (Singapore) Pte Ltd (GVK Coal) as on June 30, 2016, an entity whose net liabilities exceeds net assets by $900 million (Rs 5,741.60 crore) as on June 30, 2015, it said.
