GMR Infra shares end nearly 14% up, mcap rises by Rs 1,238 crore

New Delhi: Shares of GMR Infrastructure on Friday ended with nearly 14 percent gains, adding Rs 1,238.11 crore to its market valuation, on reduction in the company's gross debt.

The stock zoomed 13.71 percent to close at Rs 17 on BSE. During the day, it jumped 27 percent to Rs 19 -- its 52-week high.

At NSE, shares of the company soared 13 percent to close at Rs 16.90.

The company's market valuation went up by Rs 1,238.11 crore to Rs 10,261.11 crore.

In terms of volume, 275.69 lakh shares of the company were traded on BSE and over 31 crore shares changed hands at NSE during the day.

GMR Infrastructure today reported widening of its standalone net loss to Rs 2,478.7 crore for the quarter ended March 31, 2017.

The company had posted standalone net loss of Rs 1,787 crore in the corresponding quarter of 2015-16, GMR Infrastructure said in a filing to BSE.

The company's standalone total revenue declined to Rs 272.47 crore compared to Rs?395.25 crore in the year-ago period.

Reflecting GMR's turnaround efforts and improvement of financial health of the group, the gross debt reduced to Rs 19,856 crore from Rs 37,480 crore, it said.

GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.