India's GVK airports posts Rs722m profit in Q3

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Indian conglomerate GVK Power and Infrastructure's airports division posted a pre-tax profit of Rs722 million ($13.4 million) in the third quarter, up by 27% year on year.

For the three months ended 31 December 2012, the airports division, which operates Mumbai's Chhatrapati Shivaji and Bengaluru International Airports in India, posted a revenue of Rs3.47 billion, up 28% year on year.

Revenue recorded at Mumbai International Airport grew by 4% year on year to Rs3.47 billion, while revenue at Bengaluru International Airport fell by 0.1% to Rs1.53 billion.

For the nine months ended 31 December 2012, the airports division's pre-tax profit and revenue more than tripled to Rs1.83 billion and to Rs9.89 billion respectively.