Nirmal Bang has come out with its first quarter (April-June) earnings estimates for the infrastructure sector. The brokerage house expects GMR Infrastructure to report a loss of Rs 189.8 crore for the quarter.
Revenues are expected to increase by 5.2 percent Q-o-Q (down 8.9 percent Y-o-Y) to Rs 2,105.1 crore, according to Nirmal Bang. Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 1 percent Q-o-Q (up 29.7 percent Y-o-Y) to Rs 773.6 crore. EBITDA margin or operating profit margin is likely to be at 36.7 percent in June quarter as against 38.3 percent in March quarter and 25.8 percent in a year ago period. Nirmal Bang report on GMR Infrastructure The company's airport segment revenue is likely to remain flat due to exclusion of Male airport from its financials, which has offset the impact of DIAL's (Delhi International Airport) tarrif hike. The power sengemt's performance is likely to improve led by completion of Kamalanga (Orissa) and Emco (Maharashtra) projects. The road segment's performance would be driven by completion of two projects in 2HFY13. Overall, we expect net sales to decline 8.9 percent to Rs21 billion, but EBITDA to grow 29.7 percent to Rs 7.73 billion. However, we expect the company to post a net loss of Rs 1.89 billion, mainly due to higher capitalisation charges. Key things to watch out are the PLF (plant load factor) at its power plants and further developments on asset monetisation.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
