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GMR Infrastructure Q1 loss narrows to Rs 107 cr

Press Trust of India  |  New Delhi 

Infrastructure Ltd (GIL) today said its loss narrowed by 44 per cent to Rs 107 crore during the first quarter ended June 30, 2017.

The company's total comprehensive loss during the April- June quarter of preceding fiscal stood at Rs 190 crore.

"Its gross revenues from continuing operations for first quarter of FY18 improved by 41 per cent to Rs 3,159 crore as against Rs 2,239 crore in April-June of FY17," said in a statement.

Further, the company also saw its (Earnings before interest, tax, depreciation and amortisation) improving by 11 per cent to Rs 845 crore from Rs 759 crore in the year-ago quarter.

"also concluded financing the entire debt of Rs 1,330 crore for development of greenfield airport at Mopa (Goa) on door to door tenure of 18 years on competitive terms," the statement said.

Besides, GMR Airports has won a contract of Crete Island, Greece.

"GMR Airports emerged as the successful bidder to develop, operate and manage the new international airport in Greece. GMR has partnered with Greek infrastructure major TERNA S A (100 per cent subsidiary of GEK TERNA Group) for the project. The concession period for the project is 35 years and GMR Airports will be designated as airports operator in the consortium for this project," it said.

In the energy sector, the company said while its Warora plant clocked PLF (Plant Load Factor) of 77 per cent during April-June FY18 against 44 per cent during the year-ago quarter, the Kamalanga plant operated at PLF of 65 per cent against 72 per cent a year ago.

Buoyed with improved coal prices and increased volume, Golden Energy Mines (JV between GMR and Sinarmas Group) recorded profit of Rs 210 crore for the reported quarter as against Rs 10 crore profit for the corresponding quarter of the preceding fiscal, the company added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, August 13 2017. 15:13 IST