GMR Infra's Q1 loss widens to 334.85 crore

GMR Infrastructure reported Rs 334.85 crore loss on consolidated basis for the quarter ended June 30, as against Rs 237.63 crore loss during the same quarter last fiscal, the company said in a filing with the bourses on Wednesday.

Consolidated total income stood at Rs 2,205.91 crore during the quarter under review, as against Rs 1867.24 crore in the same quarter of the previous financial year, it said.

GMR's airport division reported Rs 1,441.60 crore revenue and Rs 457.67 profit in the first quarter of the current fiscal. It garnered a revenue of Rs 1,246.77 crore and a profit of Rs 276.55 crore in the same period last year.

Traffic at Delhi Airport declined by 10 per cent YoY to 15.7 million in Q1FY20, from 17.6 million in Q1FY19 on discontinuation of operations by Jet Airways. However, the airport generated cash profit of Rs 186 crore in the first quarter, against a cash loss of Rs 30 crore in Q1FY19, it said.

Traffic from Hyderabad Airport grew by 8 per cent in the April-June quarter to 5.5 million in Q1FY20, from 5.2 million in Q1FY19 despite Jet Airways discontinuing operations.

Mactan Cebu Airport in Philippines generated cash profit of Rs 47 crore in the first quarter of FY20, as against Rs 43 crore in the same quarter of FY18.

The Board of Directors of the company at its meeting held on August 8 has approved for the proposal to raise funds up to Rs 2,500 crore in one or more tranche(s), through issue of equity shares or equity linked instruments, debentures or any other securities as per the requirements of applicable laws and also Rs 229.70 crore through issue of four optionally convertible debentures (OCDs) of face value of Rs 57,41,97,685, a separate filing by the company said.