GMR Group's GMR Infrastructure Q3 net loss doubles to Rs 217.45 cr
The Bangalore-based infrastructure firm, which operates mainly in airports, roads, power and EPC segments, had reported a net loss of the Rs 107.95 crore in the corresponding quarter of the previous fiscal.
Consolidated income from operations of the company rose by 7.83 per cent to Rs 2,356.30 crore during the quarter vis-a-vis Rs 2,185.13 crore of the Q3 of FY'12, it said in a filing to the BSE.
Company's expenses at Rs 2,084.11 crore in the Q3 constituted over 88 per cent of its total income from operations.
However, a rise of nearly 24 per cent in the interest burden at Rs 525.27 crore lead to doubling of net loss for the company.
Among the business segments, the airport business reported a revenue growth of 43.63 per cent at Rs 1,598.54 crore during the quarter, while revenues from roads and highways were up 22 per cent at Rs 123.76 crore.
On the other hand, GMR reported a 15 per cent decline in power and 16 per cent decline in revenues from EPC vertical to Rs 520.57 crore and Rs 340.43 crore respectively during the quarter.
According to the company, its subsidiary Delhi International Airport Ltd (DIAL) -- the operator of Delhi International Airport -- reported a net profit of Rs 8.89 crore during the quarter.
Though DIAL has accumulated losses of Rs 1,616.30 crore so far, the
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