GVK Power & Infrastructure Ltd gained 5.45% today to trade at Rs 7.54. The S&P BSE Utilities index is up 1.38% to quote at 1898.01. The index is down 0.73 % over last one month. Among the other constituents of the index, NTPC Ltd increased 3.06% and Indraprastha Gas Ltd added 2.98% on the day. The S&P BSE Utilities index went down 5.09 % over last one year compared to the 12.96% surge in benchmark SENSEX.

GVK Power & Infrastructure Ltd has added 0.53% over last one month compared to 0.73% fall in S&P BSE Utilities index and 0.98% rise in the SENSEX. On the BSE, 32354 shares were traded in the counter so far compared with average daily volumes of 2.69 lakh shares in the past one month. The stock hit a record high of Rs 14.44 on 28 May 2018. The stock hit a 52-week low of Rs 5.05 on 18 Feb 2019.

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Net profit of GVK Power & Infrastructure rose 199.83% to Rs 69.38 crore in the quarter ended March 2019 as against Rs 23.14 crore during the previous quarter ended March 2018. Sales rose 340.26% to Rs 13.78 crore in the quarter ended March 2019 as against Rs 3.13 crore during the previous quarter ended March 2018.

For the full year,net profit reported to Rs 113.94 crore in the year ended March 2019 as against net loss of Rs 36.08 crore during the previous year ended March 2018. Sales rose 40.33% to Rs 23.21 crore in the year ended March 2019 as against Rs 16.54 crore during the previous year ended March 2018.

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GVK Power & Infrastructure will hold a meeting of the Board of Directors of the Company on 24 May 2019.

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GVK Power & Infrastructure announced that GVK Airport Holdings, a step down subsidiary of the company, has exercised its right, under“Right of First Refusal” in terms of the Shareholders Agreement dated 4th April, 2006, subject to certain terms and conditions, as may be mutually agreed, regulatory and other approvals and also in accordance with the various contractual agreements between GVKAHL and Bid Services Division (Mauritius) (“Bidvest”), to acquire 16,20,00,000 equity shares of Mumbai International Airport (MIAL) MIAL”), constituting 13.5% of the total paid-up share capital of MIAL, from Bidvest at the rate of Rs.77 per share. Upon completion of this acquisition, equity shareholding of the GVK Group will increase to 64% from the existing 50.5% of the total paid-up share capital of MIAL.

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