GVK Power Q4 loss widens to Rs 408 crore

GVK Power and Infrastructure on Saturday reported widening of consolidated net loss to Rs 407.70 crore for the March quarter.

The company had posted a net loss of Rs 108.66 crore in the January-March period of 2014-15 fiscal, GVK Power & Infrastructure said in a BSE filing.

However, Net sales increased to Rs 1,081.16 crore in the same quarter of 2015-16 fiscal as against Rs 846.30 crore in the year-ago period. Total expenses rose to Rs 969.37 crore compared with Rs 634.22 crore in the same period a year ago, it said.

"The figures of last quarter for the current year and previous year are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2016, and March 31, 2015 and the unaudited published year-to-date figures up to December 31, 2015 and December 31, 2014," it added.

"The unaudited consolidated published results year-to-date figures up to the third quarter ended December 31, 2015, and December 31 2014 were not subject to limited review, however, the unaudited standalone results were subject to limited review," the company said.

In a separate filing, the company said the board has approved for the proposed enhancement of the existing overall limits for making investments/giving loans, guarantees/ providing securities subject to approval of the shareholders of the company through postal ballot.