GMR Infra Q4 loss widens to Rs2,479 crore
GMR Infrastructure reports widening of its standalone net loss to Rs2,478.7 crore for fourth quarter ended 31 March 2017 as against Rs1,787 crore in the corresponding quarter of FY16
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New Delhi: GMR Infrastructure on Friday reported widening of its standalone net loss to Rs2,478.7 crore for the quarter ended 31 March 2017.
The company had posted standalone net loss of Rs1,787 crore in the corresponding quarter of FY16, GMR Infrastructure said in a filing to BSE.
The company’s standalone total revenue declined to Rs272.47 crore compared to Rs395.25 crore in the year-ago period.
Reflecting GMR’s turnaround efforts and improvement of financial health of the group, the gross debt reduced to Rs19,856 crore from Rs37,480 crore, it said.
GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure. The group has 15 power generation projects of which 10 are operational and five are under development and construction. Besides, it has seven operating road assets.
Also Read: GMR Infra shares surge 20% on fall in debt
A double rail track line between Mughalsarai-New Bhaupur (Kanpur) of Eastern Dedicated Freight Corridor is under development.