GMR Infra posts Rs 63 cr loss for Q2 on higher interest costs

GMR Infra posts Rs 63 cr loss for Q2 on higher interest costs
New Delhi: Hit by higher interest outgo, GMR Infrastructure has reported a consolidated loss of Rs 62.53 crore for the July-September quarter despite a healthy spike in income from operations.
     
The company, having interests in airports, power, roads and EPC, among others, had clocked Rs 71.12 crore net profit in the year ago period.
     
Its interest outgo during the quarter stood at Rs 392.21 crore compared to Rs 262.31 crore in the corresponding quarter last fiscal.
     
Total operating cost of the company in the July-September quarter stood at Rs 1,311 crore over Rs 866 crore in the corresponding quarter last fiscal.
     
Net sales of the company rose to Rs 1,812 crore during the quarter under review from Rs 1,221 crore a year ago, up by 48.4 per cent.
     
Revenue from the airports business during the quarter jacked up to Rs 836 crore from Rs 488 crore a year earlier.

Power, roads and EPB businesses contributed Rs 534 crore, Rs 100 crore and Rs 290 crore respectively.

PTI