GVK Power & Infrastructure's loss trims 90% in Q3 FY17

GVK Power and Infrastructure on Tuesday reported 89.6% net loss in the third quarter of fiscal year 2016-17.

The company's total expenses during the period under review went down by 47.4% to Rs 4.02 crore as against Rs 7.64 crore in the year-ago period. Representational Image. Image Source: Official Website

Highlights:

1. The company's net loss for the third quarter of the current fiscal decreased by 89.6% to Rs 0.71 crore as against a loss of Rs 6.8 crore in the corresponding quarter of previous fiscal

2.Its total income from operations during the October to December quarter of FY17 rose up by 4.25% to Rs 7.12 crore as compared to Rs 6.83 crore in the October to December quarter of FY16

GVK Power and Infrastructure on Tuesday reported nearly 90% decline in its net loss for the third quarter (Q3) of fiscal year 2016-17 ended on December 31 last year.

The company's net loss for the third quarter of the current fiscal decreased by 89.6% to Rs 0.71 crore as against a loss of Rs 6.8 crore in the corresponding quarter of previous fiscal, cited GVK Power and Infrastructure in a filing to the BSE.

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Its total income from operations during the October to December quarter of FY17 rose up by 4.25% to Rs 7.12 crore as compared to Rs 6.83 crore in the October to December quarter of FY16.

The company's total expenses during the period under review went down by 47.4% to Rs 4.02 crore as against Rs 7.64 crore in the year-ago period.

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On Tuesday, the stock of GVK Power and Infrastructure closed up 10.91% or Rs 0.72 at Rs 7.32 on the BSE.