GMR Infra likely to post loss of Rs 54 cr in Q2

GMR Infrastructure is expected to report a consolidated loss of Rs 54 crore in the second quarter of FY12 as against loss of Rs 69 crore in the corresponding quarter of last fiscal.

Net sales are seen going up 38% to Rs 1,684 crore from Rs 1,222 crore during the same period.

EBITDA is likely to go up by 24% to Rs 443 crore in the July-September quarter of FY12 versus Rs 356 crore in a year ago period.

Operating profit margin is expected to be at 26.31% versus 29.15% year-on-year.

Expectations

Revenues to be boosted by strong performance in airports business and consolidation of Male airport

Higher interest and depreciation costs, lower merchant power realizations could dent earnings
-Expect depreciation costs to be high on account of commissioning of T-3 at Delhi airport

Post high court ruling in June quashing collection of ADF at DIAL, GMR approached AERA
-The decision regarding the same is still pending

GMR diluted 30% stake in GMR Energy (Singapore) Pte Ltd., during Q2FY12
* Sold 30% stake to Petronas International Corp.
* Sold stake at a 30% premium to its initial equity investment, implying deal value of around USD 50 million
* If gains from stake sale in the Singapore subsidiary are incorporated, losses could be reduced by around Rs 45 crore
* Value of GMR