GVK Power & Infrastructure

GVK purchases 12% stake in BIAL

GVK Airport Developers, a 100% arm of GVK Power and Infrastructure has revealed that it has purchased 12% stake in Bangalore International Airport Ltd (BIAL).

The company has acquired the stake from Zurich Airport, which owns 17% stake in the airport. The acquisition deal entails an investment of Rs 484 crore.

GVK Power and Infrastructure, is active in infrastructure developing as well as is one of the promoters of Mumbai International Airport Ltd.

GVK Power & Infra Q1 net down 19%

GVKGVK Power & Infrastructure Ltd on Tuesday recorded a decline of 19% in consolidated net profit to Rs 327.3 million in the first quarter of the current fiscal, hit by higher interest costs.

However, net sales doubled to Rs 3.3 billion from Rs 1.3 billion in the same period last year as two power plants with 684 Mw capacity commenced operations in the quarter, which, in turn, increased company's revenue.

GVK Power & Infrastructure divests stake in subsidiary

GVK Power & Infrastructure has made announcement that the company has withdrawn its entire equity stake holding in its wholly owned arm, GVK Aviation (P).

According to the sources, GVK Aviation (P) is no more a wholly owned unit of the company from Sep. 30, 2008.

GVK Power & Infrastructure (GVKPIL) participates in operations and maintenance services.

Stock of GVK Power & Infrastructure, plummeted 14.9 per cent, to settle at Rs 16 on National Stock Exchange (NSE). The total volume of shares traded was 12,410,198 at the NSE.