GMR Infra incurs Rupees 137-cr consolidated loss in Q1

GMR Infra incurs Rupees 137-cr consolidated loss in Q1

THE HANS INDIA |   Aug 13,2017 , 09:13 PM IST

Hyd airport traffic up 19% at 4.2 mn from 3.5 mn in June quarter

GMR Infra incurs Rs 137-cr consolidated loss in Q1
GMR Infra incurs Rs 137-cr consolidated loss in Q1

 Hyderabad: GMR Infrastructure Ltd has posted consolidated loss of Rs 136.60 crore for the quarter ended June 30, as against Rs 235 crore in the previous corresponding quarter. According to a statement issued by the company, the gross revenue from operations for Q1 FY18 improved by 41 per cent to Rs 3,159 crore as against Rs 2,239 crore for Q1 FY17. 

According to a release from GMR Infra, the Delhi airport traffic rose to 15.7 million from 13.8 million (growth of 14 per cent), the Hyderabad airport traffic rose to 4.2 million from 3.5 million (growth of 19 per cent), while the traffic at Cebu airport in Philippines went up to 2.4 million from 2.1 million (growth of 16 per cent) during the quarter. 

GMR has bagged some prestigious projects. 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 SA (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 the airports operator in the consortium for the project, it said. The infra major also said that it concluded financing the entire debt of Rs 1,330 crore for the development of Greenfield airport at Mopa on a door-to-door tenure of 18 years on competitive terms. 

By Business Bureau