 "GMR Infrastructure Q1 net loss shrinks to Rs 429 cr")
The group had clocked a net loss of Rs 593.2 crore in the year-ago period. Consolidated net sales rose 8.5 per cent to Rs 2,928.22 crore in Q1, from Rs 2,699.38 crore a year ago.
“On account of deleveraging and refinancing efforts of the group, interest in absolute terms has reduced by Rs 62 crore over the last quarter, crore in Q1 2014-15." the firm said.
It added a Rs 1,402 crore rights issue was concluded in Q1, of which Rs 1,100 crore was used for debt repayment.
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