GMR posts Q2 net loss of Rs 179 crore

Nov 14, 2012 |

Hyderabad

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GMR Infrastructure Limited on Wednesday said its consolidated net loss widened to Rs. 179 crore for the quarter ended September 30 from Rs. 63 crore net losses registered during the same period a year ago.

According to a statement issued by the Group on Wednesday, the loss is mainly attributable to high interest cost which rose to Rs. 485 crore from Rs. 392 crore in the year ago period.

This is second consecutive quarter the Group posted loss due to various reasons. It reported Rs. 110 crore net losses during April-June quarter this fiscal.

Total income increased to Rs. 2,479 crore during the quarter under review from Rs. 2106 crore for the quarter ended September 30, 2011.

Revenues from Airport segment increased by nearly 37 per cent to Rs. 1,469 crore during the second quarter from Rs. 1,076 crore during the same period a year ago.

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