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Business News » Companies News

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.

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GVK Power & Infrastructure's loss trims 90% in Q3 FY17
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
Written By: Tejal Yerunkar
Updated: Tue, Feb 14, 2017
03:55 pm
Mumbai , ZeeBiz WebDesk
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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.

ALSO READ: GVK Power shares up nearly 15% as firm seeks shareholders' nod to hike limit for loans

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. 

See LIVE stock updates of GVK Power and Infrastrucure here-  

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

ALSO READ: GVK outbids GMR Infrastructure; wins Navi Mumbai International Airport project bid    

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
GVK Power & InfrastructureInfrastructureEnergylossGVK Power and InfrastructureGVK Q3 ResultsGVK Q3 Earningsnet losstotal expensestotal income from operationsgvk stockGVK Power and Infrastructure stockBSE
RELATED NEWS
GVK outbids GMR Infrastructure; wins Navi Mumbai International Airport project bid GVK outbids GMR Infrastructure; wins Navi Mumbai International Airport project bid
GVK Power shares up nearly 15% as firm seeks shareholders' nod to hike limit for loans GVK Power shares up nearly 15% as firm seeks shareholders' nod to hike limit for loans
GVK Power Q4 loss widens to Rs 408 crore GVK Power Q4 loss widens to Rs 408 crore

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