GMR Infra posts Rs382 crore loss in Q3

GMR Infra’s total income from operations declined to Rs216.25 crore during the third quarter as against Rs294.48 crore in the year-ago period


GMR Infra posted a net profit of Rs40.01 crore in the corresponding quarter of the 2015-16. Photo: Mint
GMR Infra posted a net profit of Rs40.01 crore in the corresponding quarter of the 2015-16. Photo: Mint

New Delhi: GMR Infrastructure on Monday reported a standalone net loss of Rs381.93 crore for the quarter ended December 2016.

The company posted a net profit of Rs40.01 crore in the corresponding quarter of the 2015-16, it said in a BSE filing. Its total income from operations declined to Rs216.25 crore during the quarter as against Rs294.48 crore in the year-ago period.

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Its total expenses rose to Rs103.52 crore during the quarter under review as against Rs36.29 crore in the corresponding quarter a year-ago. In a separate filing, the firm informed that Jayesh Desai has resigned from the position of director of the company with effect from 13 February.

“The board at their meeting held on 13 February, 2017 took on record the resignation of Jayesh Desai and recorded its appreciation for the valuable services rendered by him during his tenure as a director of the company,” the statement said.

GMR Group is a leading global infrastructure conglomerate with interests in the airport, energy, transportation and urban infrastructure. The shares of the company closed at Rs14.28 apiece on the BSE, down 2.86% from its previous close.

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