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GMR net loss widens to Rs 179 crore

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Published: Wednesday, November 14, 2012, 15:13 [IST]

GMR net loss widens to Rs 179 crore

GMR Infrastructure on Wednesday reported net loss of Rs 179 crore for the quarter ended September 30 against Rs 63 crore net losses reported during same period of previous year.

"The loss is mainly attributable to high interest cost which rose to Rs 485 crore from Rs 392 crore in the year ago period," a statement from the company said.

The company's total income increased to Rs 2,479 crore during the quarter as against Rs 2106 crore in the same quarter of previous year.

Revenues from Airport segment increased by nearly 37% to Rs 1,469 crore during the second quarter from Rs. 1,076 crore during the same period a year ago.

Delhi International airport, a subsidiary of GMR, incurred a net loss of Rs 41.16 crore during the quarter.

Delhi International airport has also accumulated a total loss of Rs 1,625.19 crore as on September 30, resulting in a substantial erosion of net worth, the company said.

The Indian bond, forex and stock markets are shut today on account of Diwali celebrations.

GoodReturns.in

Topics: gmr
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