GMR Infrastructure Q1 net loss widens to Rs 235 crore

Our Bureau | | Updated on: Dec 06, 2021

The project to expand GMR’s Rajiv Gandhi International Airport in Hyderabad will be completed in 42 months

Airports business performs well

GMR Infrastructure Limited has posted a loss of Rs 235 crore for the first quarter ended June 30, 2018 as against a loss of Rs 137 crore for the corresponding quarter of previous financial year on a consolidated basis.

The diversified infrastructure company registered gross revenue of Rs 1,747 crore (Rs 2,674 crore).

For the fiscal ended March 31, 2018, the company had posted a loss of Rs 1,015 crore and gross revenue of Rs 8,721 crore.

The company's board approved an enabling resolution to raise up to Rs 2,500 crore in one or more tranches and also okayed raising up to Rs 450 crore in one or more tranches through the issue of optionally convertible debentures.

Airport sector

The company's airport sector continues to witness high traffic growth with 14 per cent growth and non-aero revenues grew by 20 per cent and 16 per cent respectively in Delhi and at Hyderabad airports.

The Hyderabad airport clocked a profit of Rs 185 crore as against Rs 109 crore. It announced a dividend of 25 per cent during the quarter.

GMR also opertionalised terminal 2 of Cebu Airport on July 1, 2018.

GMR said that Delhi airport traffic grew by 12 per cent to 17.6 million passengers and, at Hyderabad airport, it grew by 24 per cent to 5.2 million for the quarter and at Cebu it was up by 11 per cent to 2.7 million.

GMR arm has undertaken expansion work at the Hyderabad airport to increase the capacity to 34 million passengers per annum from the current 12 MPPA. The expansion would be completed over 42 months.

Energy biz

The energy sector registered higher plant load factor in Kamalanga and Warora power plants with Warora profits going up to Rs 15 crore from Rs 6 crore and Kamalanga from Rs 18 crore to Rs 43 crore.

The Indonesian coal mine, PT Gems, registered a profit of Rs 318 crore for the quarter as against Rs 210 crore.

The company's subsidiary KSEZ has won a bid for development of commercial port in East Godavari district in Andhra Pradesh with a capacity of 16 mt.

Published on August 15, 2018
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