| GMR Infra posts Rs940m net loss |
BANGALORE GMR Infrastructure on Friday reported a consolidated net loss of Rs940 million for the quarter ended June 30, 2012, mainly on account of losses at Delhi International Airport (DIAL) and one-time tax asset reversal at GVPGL (Vemagiri power plant).
Gross revenues of the company rose to Rs 2,562 crore in the quarter under review from Rs20.90 billion in the same quarter last year.
Loss for the quarter reduced significantly as compared to the previous quarter ended March, 2012 (Rs3.66 billion) on account of improved revenue and EBIDTA from all sectors, GMR Group President and CFO Subba Rao said.
The losses at DIAL have shown a significant downturn post the sanction of ADF (airport development fee) and revision of tariff rates, Rao said. The profitability of DIAL is expected to further improve in next quarters on account of applicability of the revised tariff for the full period.
With the consistent improvement in margin at airports, the EBIDTA margins showed increase over the corresponding quarter, he said.
Agencies
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