You are here: Home » Companies » News
Business Standard

GMR Infrastructure Q2 consolidated net loss at Rs 169.21 crore

The firm on Friday reported narrowing of consolidated loss

Topics
GMR Infrastructure | Q2 results | infrastructure projects

Press Trust of India  |  New Delhi 

GMR Infra
GMR Infrastructure carries on its business through various subsidiaries, joint ventures, jointly controlled operations and associates

Ltd on Friday reported narrowing of consolidated loss to Rs 169.21 crore for the quarter ended September 30.

The company had posted a consolidated loss after tax of Rs 750.03 crore in the corresponding period last year, said in a filing to the BSE.

Its consolidated total income during July-September 2021 increased to Rs 2,135.49 crore, compared with Rs 1,448.08 crore in the year-ago period, the filing said.

carries on its business through various subsidiaries, joint ventures, jointly controlled operations and associates, being special purpose vehicles exclusively formed to build and operate various

The operations of the Group, its joint ventures and associates were impacted by the second wave of the COVID-19 pandemic, the company said in a statement.

The management believes that such impacts are short term in nature and doesn't anticipate any long-term impact on business prospects considering the recovery was seen in past as well as during the current quarter, it added.

"The group, based on its assessment of the business/economic conditions and liquidity position for the next one year, expects to recover the carrying value of assets, and accordingly, no material adjustments are considered necessary in the consolidated financial results," it said.

The statement added that the impact of the COVID-19 pandemic might be different from that estimated as at the date of approval of these consolidated financial results, and the Group will closely monitor any material changes to future economic conditions.

The group's business segments comprise airports, power and roads, among others.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, November 12 2021. 21:11 IST
RECOMMENDED FOR YOU
.