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GMR Infrastructure Ltd has posted a loss of ₹561 crore for the third quarter ended December 31, against a loss of ₹578 crore for the corresponding quarter of the previous financial year, on a consolidated basis.
The diversified infrastructure company posted gross revenues of ₹1,958 crore (₹2,072 crore).
Nine-month result
For the nine months ended December 2018, the company posted a loss of ₹1,114 crore (₹1,096 crore) and gross revenue of ₹5,609 crore (₹6612 crore).
The GMR Infra management said it will go for a restructuring for unlocking value in the airports vertical, land monetisation at Delhi airport, and resolution of stressed assets.
With a view to unlock shareholder value, the GMR board has decided to form a sub-committee to consider and evaluate demerger options.
The Delhi International Airport Ltd (DIAL) board has approved land monetisation of up to 10 million sq ft for commercial development.
The company also expects resolution of issues related to GMR Chhattisgarh Energy Ltd and GMR Rajahmundry Eneregy Ltd. It has received approval from all the consortium lenders for the resolution plan.
While the airports business has shown positive numbers, with Delhi airport making a cash profit of ₹156 crore, the Hyderabad airport achieved a cash profit of ₹216 crore.
The operating thermal power plants continue to register a steady performance, the company said.
Indonesia coal mine PT Gems had revenues of ₹1,196 crore.
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