Mumbai, Feb 8 (PTI) Construction firm GMR Infrastructure today posted a 385 per cent increase in its net loss to Rs 107.96 crore for the quarter ended December 31 as compared to Rs 22.25 crore loss in the same period last fiscal, mainly on the back of losses incurred by its Delhi Airport project. However, the company's net sales from operations for the period grew by 47.1 per cent to Rs 1,999.30 crore, as against Rs 1,358.78 crore in the corresponding period last year. "The loss of Rs 229 crore incurred by Delhi Airport for the quarter, coupled with exceptional items and an interest charge of Rs 17 crore on account of loan borrowed for Sinar Mas acquisition resulted in the increase in loss to 107.96 crore," GMR Group Chief Financial Officer A Subbarao told reporters in a conference call. However, he expects the Delhi airport tariff to kick in, which will help in minimising current losses. "With the tariff revision process for the airport having commenced consequent to the issue of consultation paper by Airports Economic Regulatory Authority (AERA), the adverse impact of DIAL's results on the profitability of the company will soon be mitigated," he said. Apart from this, GMR also suffered a set back in its energy business due to lower gas availability for its operating gas projects and major maintenance shutdown of Vemagiri power plant, which resulted in a lower plant load factor (PLF). (MORE) PTI PSK AP DK
