GMR Infrastructure Q2 net loss may widen to Rs 270 cr: Poll

GMR Infrastructure will declare its second quarter (July-September) results today. According to a CNBC-TV18 poll, analysts expect net loss of the company to expand to Rs 270 crore from Rs 179 crore year-on-year due to gas unavailability and increase in interest expenses.

Total income is expected to decline 8.7 percent on a yearly basis to Rs 2,191 crore in three-month period ended September 2013.

Analysts feel revenues will be driven by commissioning of Emco power plant (300 MW) and stabilisation of Kamalanga plant (Orissa). Roads segment’s performance will be driven by completion of two projects in October-March period of FY13.

Earnings before interest, tax, depreciation and amortisation (EBITDA) may increase 27.3 percent Y-o-Y to Rs 677 crore and operating profit margin may expand 870 basis points Y-o-Y to 30.9 percent in the quarter gone by, driven by tariff revision at Delhi airport, and commissioning of power and road projects.
 
Watch out for profitability of the airports segment after a pick up in traffic growth last quarter and further development on asset monetisation.

During the quarter, GMR sold 74 percent stake in a toll road project (GMR Ulundurpet Expressways Private Limited) for an enterprise value of Rs 320 crore.