Shares of GMR Infrastructure today soared nearly 20 per cent on reduction in the company’s gross debt. After making a positive opening, the stock further zoomed 19.73 per cent to Rs 17.90 as the trade progressed on BSE.
On NSE, shares of the company jumped 19.73 per cent to Rs 17.90. 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 standalone net loss of Rs 1,787 crore in the corresponding quarter of financial year 2015-16. 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 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 airport, energy, transportation and urban infrastructure.