GVK topline up 8%

Financial Highlights

GVK PIL registered a consolidated total income from operations of Rs. 2820.93 Crores for the year ended March 31, 2014, as against Rs. 2607.65 Crores during the corresponding period of the previous year recording an increase of 8.18%. EBIDTA at a consolidated level for the year stood at Rs. 1005.96 Crores as against Rs. 683.25 Crores in the previous year recording an increase of 47.23%. EBIDTA margin at consolidated level improved to 36% as compared to 26% in previous year.

GVKPIL’s consolidated net loss for the year ended March 31st, 2014 is Rs. 368.67 Crores as against a net loss of Rs.335.97 Crores in the previous year. The losses during the year are attributable mainly to the restricted supply of gas for one power plant and nil supply to two power plants as a result of which the plants did not operate at full capacity, higher interest cost and onetime tax provision.

GVK PIL registered a consolidated total income from operations of 694.41 Crores for the quarter ended Mar 31, 2014, as against Rs. 500.07 Crore during the corresponding quarter of the previous year.

Operational Highlights

·         Airports

o    MIAL - Mumbai International Airport Private Limited recorded revenue of Rs.2150.53 Crore for the year ended March 31, 2014 as against that of Rs. 1460.67 Crore for the previous year registering an increase of 47.23%. EBIDTA margin improved to 34% as compared to 30% in previous year. Net Profit for the year ended March 31, 2014 is Rs. 210.98 Crore as against Rs. 154.70 Crore in the corresponding quarter of the previous year registering an increase of 36.38%.

o    BIAL - Bangalore International Airport Limited recorded revenue of Rs. 646.44 Crore for the year ended March 31, 2014 as against Rs 611.29 Crore for the previous year registering an increase of 5.75%. EBIDTA margin improved to 60% as compared to 55% in previous year. Net Profit for the for the year ended March 31, 2014 is Rs. 64.08 Crore as against Rs.118.43 Crore for the previous year. The profit was lower on account onetime tax provision of Rs 92 Crs. This tax is reimbursable as part of the Tariff.

·         Transportation

o    GVK Jaipur Expressway Private Limited - recorded revenue of Rs. 271.95 Crore for the year ended March 31, 2014 as against Rs.249.33 Crore for the previous year registering an increase of 9.07%. EBIDTA margin improved to 72% as compared to 71% in previous year. Net Profit for the for the year ended March 31, 2014 is Rs. 54.63 Crore as against Rs.34.01 Crore for the previous year registering an increase of 60.64%. Traffic increased by 5% over the same period in previous year.

·         Energy

The three gas based projects i.e. 464 MW GVK Gautami Power Limited and 235 MW Phase I & 220 MW Phase II projects of GVK Industries Limited have recorded revenue of Rs.366.99 Crore for the year ended March 31, 2014 as against Rs.895.45 Crore for the previous year registering an decrease of 59.02%.  This reduction is mainly due to stoppage of Gas supply from KG basin to two gas plants and reduced gas supply to one plant. EBIDTA margin improved to 11% as compared to 8% in previous year.