ALSO READGMR Infra sees turnaround in FY17 after airport business picks up GMR Infrastructure to seek shareholders' nod to raise up Rs 2,500 crore All business activities, investments in compliance with tax laws: GMR Infra GMR Infrastructure surges on significant reduction in FY17 debt GMR Group plans to sell assets, refinance loans to cut debt and expand biz
GMR Infrastructure's standalone net loss for the September quarter narrowed to Rs 276.41 crore due to a fall in provision for diminution in value of investments and advances. The company had reported a net loss of Rs 700.34 crore in the year-ago period. Its total revenue declined to Rs 206 crore as against over Rs 331.22 crore a year ago, GMR Infrastructure said in a BSE filing today. During the quarter under review, the company reported a provision for diminution in value of investments and advances at Rs 179.92 crore as against Rs 752.65 crore in the same quarter a year before. The stock was trading 5.04 per cent lower at Rs 16.95 on the BSE.