GMR Infrastructure Ltd has posted a loss of Rs 107 crore in the first quarter ended June 30, 2017, which is 44 per cent lower than the loss of Rs 190 crore, it posted in the corresponding quarter last year on a consolidated basis.

Gross revenue from continuing operations in the first quarter was up 41 per cent at Rs 3,159 crore against Rs 2,239 crore in the corresponding quarter last year.

During the quarter, the diversified infrastructure company had concluded fund raising of Rs 1,330 crore for the development of the Greenfield airport at Mopa in Goa. Performance of the airports sector has helped the company in registering better financials over the previous quarter.

In Delhi airport, the traffic had increased to 15.7 million from 13.8 million, a growth of 14 per cent, and in Hyderabad airport, the traffic had increased to 4.2 million from 3.5 million, up 19 per cent. The Cebu airport traffic was up at 2.4 million from 2.1 million, up 16 per cent.

During the quarter, GMR Airports had emerged as the successful bidder to develop, operate and manage the new international airport in Greece. GMR has partnered with Greek Infrastructure major Terna SA for the project. It has been designated as the airports operator in the consortium for the project, which has a concession period of 35 years.

In the power sector, Warora plant clocked a PLF of 77 per cent against 44 per cent and Kamalanga plant at PLF of 65 per cent against 72 per cent.

Golden Energy Mines, a joint venture between GMR and Sinarmas Group, has recorded a profit of Rs 210 crore against Rs 10 crore in the corresponding quarter last year.

Related Topics
comment COMMENT NOW