Companies

GMR pares Q2 loss to ₹219 cr

Our Bureau Hyderabad | Updated on November 15, 2018

GMR Infrastructure Limited has brought down its loss to ₹219 crore for the second quarter ended September 30, 2018 as against a loss of ₹404 crore during the corresponding quarter of previous financial year on a consolidated basis.

For the quarter under review, the diversified infrastructure company posted gross revenues of ₹2,026 crore (₹1,981 crore).

The company managed to bring down its consolidated loss significantly and unlock value in its airports sector business by achieving settlement with private equity investors. During the second quarter, the company emerged as the highest bidder for privatisation of Nagpur airport and GMR in joint venture with GEK Terna received a letter of award for development and operation of a new international airport of Heraklion at Crete.

GMR managed to commence work on expansion of the Hyderabad airport which will increase the passenger handling capacity to 34 million from the current capacity of 12 million passengers per annum. It has also completed the divestment of PT BSL Coal Mines in Indonesia.

 

Published on November 15, 2018

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor