GMR Infrastructure Ltd has posted a lower loss Rs 429.45 crore for the quarter ended June 30, 2015 as against a loss of Rs 593.20 crore for the corresponding quarter last year on a consolidated basis.
Total income has increased 9 per cent to Rs 2,966 crore during the first quarter as against Rs 2,731 crore for the quarter ended June 30, 2014.
The company said that the power sector has started stabilising its operations and recorded healthy plant load factor. The 370 MW Vemagairi gas plant started operation and is expected to further improve the performance in the coming quarter. The airports sector has shown consistent growth with robust traffic increase over last and corresponding quarter.
The company's board of directors approved the rollover resolution passed at the annual general meeting held in September 2014 for raising funds through issue of equity shares/equity linked instruments or any other securities up to Rs 2500 crore, as an enabling resolution.
During the quarter, it completed a rights issue of Rs 1,402 crore and of this Rs 1,100 crore was used towards repayment of corporate debt. GMR Airports hiked its stake in Delhi International Airport to 64 per cent by acquiring 10 per cent stake from Malaysia Airports (Mauritius) private Limited.
The Delhi and Hyderabad airports registered a traffic of 11.5 million and 2.95 million respectively during the quarter registering a growth of 13 per cent and 23 per cent respectively.
GMR shares gained 5 per cent to trade at Rs 13.46 during the day.