Companies

GMR Infra pares Q3 loss to ₹279 cr; airport verticals fare well

Our Bureau Hyderabad | Updated on February 14, 2020 Published on February 14, 2020

GMR Infrastructure has posted a lower loss of ₹279 crore for the third quarter ended December 31, 2019 against a loss of ₹542 crore in the corresponding quarter of the previous year.

The diversified infrastructure company logged total revenue of ₹2,196 crore for the December quarter against ₹1,958 crore on a consolidated basis.

While the company’s airport vertical logged in revenue of ₹1,615 crore in the third quarter against ₹1,358 crore for the same quarter of last fiscal, the power business logged in revenue of ₹207.2 crore against ₹145.7 crore for the same period of the previous year.

At the Delhi airport, traffic increased 6 per cent year-on-year (y-o-y) to 1.87 million in Q3FY20 and non-aero revenues grew by 12 per cent y-o-y to ₹614 crore in Q3FY20 from ₹547 crore in Q3FY19. It generated cash profit of ₹143 crore in Q3FY20, similar to that in Q3FY19.

Work on increasing the capacity from 66 mn to 100 mn passengers per annum by 2022 is progressing as per schedule.

Delhi airport has started connecting Beijing Cargo to Ukraine. This is China’s first international-to-international trans-shipment cargo movement via Delhi airport.

At the Hyderabad airport, traffic grew by 9 per cent y-o-y to 5.9 mn in Q3FY20 from 5.5 mn in Q3FY19 and non-aero revenues grew by 20 per cent y-o-y to ₹171 crore in Q3FY20 from ₹143 crore in Q3FY19. It generated cash profit of ₹241 crore in Q3FY20 against ₹231 crore in Q3FY19. Work on expanding capacity from 12 mn to 34 mn passengers per annum is progressing as per schedule.

The Cebu airport generated a cash profit of ₹41 crore in Q3FY20 compared to ₹43 crore in Q3FY19.

In the energy sector, Kamalanga Power Project, strike at Mahanadi Coalfields Limited resulted in lower plant load factor (PLF) of 63 per cent in Q3FY20. Revenue came in ₹626 crore in Q3FY20 compared to ₹624 crore in Q3FY19. It generated cash profit of ₹100 crore in Q3FY20 against ₹115 crore in Q3FY19.

And the Warora Power Project generated cash profit of ₹66 crore in Q3FY20 against ₹35 crore in Q3FY19.

The Indonesia Coal Mine (PT GEMS) logged revenue of ₹1,890 crore in Q3FY20 compared to ₹1,980 crore in Q3FY19.

Published on February 14, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.