GMR Infrastructure shrugs off weak Q2 results

GMR Infrastructure rose 1.25% to Rs 20.30 at 15:25 IST n BSE after the company reported consolidated net loss of Rs 610 crore in Q2 September 2014 compared with consolidated loss of Rs 393 crore in Q2 September 2013.

The result was announced on Saturday, 15 November 2014.

Meanwhile, the S&P BSE Sensex was up 132.65 points or 0.47% at 28,179.31.

On BSE, so far 47.83 lakh shares were traded in the counter as against average daily volume of 29.13 lakh shares in the past one quarter.

The stock hit a high of Rs 20.45 and a low of Rs 19.35 so far during the day. The stock had hit a 52-week high of Rs 38.30 on 10 June 2014. The stock had hit a 52-week low of Rs 17.20 on 30 September 2014.

The mid-cap firm has an equity capital of Rs 436.13 crore. Face value per share is Re 1.

Income from operations rose 11% to Rs 2682 crore in Q2 September 2014 over Q2 September 2013. The increase is powered by tariff growth in Delhi and Hyderabad airports and increased revenues in EMCO and Kamalanga, which are in the stabilization phase. On other hand, revenues from Turkey airport and Ulunderpet Expressways have not been accounted for during the quarter, due to disinvestments of these projects. EBITDA (earnings before interest, taxes, depreciation and amortization) rose 2% to Rs 576 crore in Q2 September 2014 over Q2 September 2013. The Group continues to consolidate and stabilize the operations through focusing on consistent growth across the various business verticals.

GMR Infrastructure is a part of GMR Group and is the infrastructure holding company formed to fund the capital requirements of various infrastructure projects across the sectors. It undertakes the development of the infrastructure projects through its various subsidiaries.

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