GMR Infrastructure posts consolidated net loss of Rs 5.66 bn in Q3

GMR Infrastructure today reported a consolidated net loss of Rs 5.65 billion for the quarter ended December 31, 2017.

The company had clocked a net profit of Rs 6.43 billion in the corresponding quarter of 2016-17, it said in a BSE filing.

Total income from operations declined to Rs 22.95 billion during the quarter under review as against Rs 25.87 billion in the year-ago period.

Total expenses declined to Rs 24.87 billion as against Rs 26.23 billion in the corresponding quarter a year ago.

GMR Group is a leading global infrastructure conglomerate with interests in the airport, energy, transportation and urban infrastructure.

Its portfolio comprises Indira Gandhi International Airport, New Delhi; Rajiv Gandhi International Airport, Hyderabad; Mactan Cebu International airport in partnership with Megawide in the Philippines and the Greenfield Airport at Mopa in Goa.

The company has won the rights to develop and operate a greenfield airport at Heraklion, Crete, Greece in partnership with GEK Terna and is also developing smart cities adjacent to Delhi and Hyderabad airports.