GMR Infrastructure today reported widening of its standalone net loss to Rs 2,478.7 crore for the quarter ended March 31, 2017. The company had posted a standalone net loss of Rs 1,787 crore in the corresponding quarter of FY16, GMR Infrastructure said in a filing to BSE. The company’s standalone total revenue declined to Rs 272.47 crore compared to Rs 395.25 crore in the year-ago period.
Reflecting GMR’s turnaround efforts and improvement of the financial health of the group, the gross debt reduced to Rs 19,856 crore from Rs 37,480 crore, it said. GMR Group is a leading global infrastructure conglomerate with interests in the airport, energy, transportation and urban infrastructure. The group has 15 power generation projects of which 10 are operational and five are under development and construction. Besides, it has seven operating road assets. A double rail track line between Mughalsarai-New Bhaupur (Kanpur) of Eastern Dedicated Freight Corridor is under development.