GMR Infra loss narrows to Rs 276 cr on lower provision on investments, advances

PTI

G.M. Rao, Chairman, GMR Infrastructure Ltd (file photo)

New Delhi, Nov 15

GMR Infrastructure’s standalone net loss for the September quarter narrowed to Rs 276.41 crore due to a fall in provision for diminution in value of investments and advances.

The company had reported a net loss of Rs 700.34 crore in the year-ago period. Its total revenue declined to Rs 206 crore as against over Rs 331.22 crore a year ago, GMR Infrastructure said in a BSE filing today.

During the quarter under review, the company reported a provision for diminution in value of investments and advances at Rs 179.92 crore as against Rs 752.65 crore in the same quarter a year before.

The stock was trading 5.04 per cent lower at Rs 16.95 on the BSE.

Published on November 15, 2017

MORE FROM BUSINESSLINE


 Getting recommendations just for you...
This article is closed for comments.
Please Email the Editor