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  1. GMR Infra net loss widens to Rs 610 cr for Sept quarter

GMR Infra net loss widens to Rs 610 cr for Sept quarter

GMR Infrastructure Limited today said its net loss for the quarter ended September 30 widened to Rs 610 crore...

By: | Hyderabad | Published: November 15, 2014 10:46 PM
GMR said the loss is attributable to higher fuel and finance cost. (Reuters)

GMR said the loss is attributable to higher fuel and finance cost. (Reuters)

GMR Infrastructure Limited today said its net loss for the quarter ended September 30 widened to Rs 610 crore (after minority interest) against Rs 393 crore during the same quarter a year ago.

The loss is attributable to higher fuel and finance cost, it said in a statement.

The income from operations was up at Rs 2,682 crore for the quarter against Rs 2,419 crore year ago.

The company has incurred nearly Rs 845 crore and Rs 500 crore towards finance charges and fuel cost respectively, while the same were Rs 684 crore and 276 crore a year ago.

The airports vertical of the group reported Rs 1,320 crore revenue, and power division Rs 1,066 crore income during the quarter under discussion, the statement said.

GMR Megawide Cebu Airport Corporation, a joint venture between GMR group and Megawide Construction, has taken over the operational control of Mactan Cebu International Airport on November 1, the statement added.

A Project Development Agreement was signed with Government of Nepal for 900MW Upper Karnali project.

The financial closure of the project is expected to be achieved within September 2016, it added.

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