Moneycontrol
Aug 13, 2017 04:29 PM IST | Source: PTI

GMR Infrastructure Q1 loss narrows to Rs 107 cr

The company's total comprehensive loss during the April- June quarter of preceding fiscal stood at Rs 190 crore.

GMR Infrastructure Q1 loss narrows to Rs 107 cr

GMR Infrastructure Ltd (GIL) today said its loss narrowed by 44 percent to Rs 107 crore during the first quarter ended June 30, 2017.

The company's total comprehensive loss during the April- June quarter of preceding fiscal stood at Rs 190 crore.

"Its gross revenues from continuing operations for first quarter of FY18 improved by 41 percent to Rs 3,159 crore as against Rs 2,239 crore in April-June of FY17," GMR said in a statement.

Further, the company also saw its EBITDA (Earnings before interest, tax, depreciation and amortisation) improving by 11 percent to Rs 845 crore from Rs 759 crore in the year-ago quarter.

"GMR also concluded financing the entire debt of Rs 1,330 crore for development of greenfield airport at Mopa (Goa) on door to door tenure of 18 years on competitive terms," the statement said.

Besides, GMR Airports has won a contract of Crete Island, Greece.

"GMR Airports emerged as the successful bidder to develop, operate and manage the new international airport in Greece. GMR has partnered with Greek infrastructure major TERNA S A (100 percent subsidiary of GEK TERNA Group) for the project. The concession period for the project is 35 years and GMR Airports will be designated as airports operator in the consortium for this project," it said.

In the energy sector, the company said while its Warora plant clocked PLF (Plant Load Factor) of 77 percent during April-June FY18 against 44 percent during the year-ago quarter, the Kamalanga plant operated at PLF of 65 percent against 72 percent a year ago.

Buoyed with improved coal prices and increased volume, Golden Energy Mines (JV between GMR and Sinarmas Group) recorded profit of Rs 210 crore for the reported quarter as against Rs 10 crore profit for the corresponding quarter of the preceding fiscal, the company added.
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