Companies

GMR Infra pares Q1 loss to ₹318 cr

Our Bureau Hyderabad | Updated on August 13, 2021

GMR Infrastructure Limited posted a loss of ₹318 crore for the first quarter ended June 30, against a loss of ₹834 crore for the corresponding Covid hit quarter of last fiscal.

The diversified infrastructure company posted a gross revenue of ₹1,776 crore for the first quarter against ₹1,134 crore for Q1 of last fiscal.

The company’s demerger process is underway and the process of obtaining approvals especially from financial and operational creditors is at advanced stage . It has received in principle approvals for demerger from majority of the financial creditors.

GMR has announced an industrial partnership with French company Groupe ADP to cooperate in the airport sector. While the Delhi airport completed issue of ₹3,257 crore through NCDs, it has completed divestment of Kakinada SEZ for ₹2,712 and received first tranche of ₹1,692 crore from Aurobindo Realty and Infrastructure.

The airports business was witness to significant traction now with the passenger confidence to travel on the rise with the decline of Covid cases.

Published on August 13, 2021

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