India News
Search Web Directory
News Home
GMR Infrastructure posts bigger-than-expected Q4 loss, shares fall
Posted on 31st May 2016
Mumbai: GMR Infrastructure Ltd on Tuesday reported a wider-than-expected loss for the fourth quarter ended 31 March, sending its shares down as much as 5.3%.

Consolidated net loss in the fourth quarter widened to Rs.953.50 crore from Rs.891.90 crore a year earlier, hurt in part by total expenses, which rose 26.5% to Rs.3,350.36 crore. Net sales rose 29% to Rs.3,708.37 crore from Rs.2,872.01 crore in the year earlier quarter.

Four analysts polled by Bloomberg had expected GMR Infrastructure to report consolidated loss of Rs.441.6 crore on net sales of Rs.3,009.90 crore.

GMR Infrastructure, which has interests in airports, energy, transportation and urban infrastructure, said revenue in its largest airports business rose 27.4% to Rs.1,831.71 crore, while power business revenue rose 28.5% to Rs.1,508.27 crore. Revenue in roads and the engineering, procurement and construction (EPC) business also rose.

For the full-year ended 31 March, the company reported consolidated net loss of Rs.2,161 crore, down from Rs.2,733.29 crore in the previous year. “Resolution of regulatory bottlenecks in power sector, better operating margins from power plants and robust traffic growth in airports have contributed to reduction in losses by Rs.960 crore during the year,” GMR Infrastructure said in a statement.

GMR Infrastructure is monetizing assets to repay creditors after years of debt-driven expansion. In March, the company agreed to sell 51% equity stake in its 99-km highway project in Karnataka to its joint venture partners. On 9 May, the company said Malaysia’s largest electric utility Tenaga Nasional Bhd will invest $300 million in another subsidiary GMR Energy Ltd and pick up 30% equity stake in a “select portfolio” of its energy assets.

As of 30 September, GMR Infrastructure had total consolidated debt of Rs.43,439.60 crore. It owns 15 power generation projects, nine operating road assets and a double rail-track line of the eastern dedicated freight corridor under development. It also operates the international airport in New Delhi.

GMR Infrastructure’s shares fell 1.83% to close at Rs.11.29 each on the BSE, on Tuesday.

Related Companies: GMR Group   

Other Latest News
'Will not give up any inch of territory': Chinese media warns ahead of India-China meeting over border standoff
Posted on 6th June 2020
A day before Corps Commander level talks between India and China over the month-long standoff in eastern Ladakh, a Chinese government mouthpiece on Friday warned that Beijing will not give up an inch of territory even though it wants good-neighbourly relations with New Delhi.

China does not want to fall foul of India. Good-neighbourly relations have been China's basic national policy over the past decades, and China firmly adheres to a peaceful resolution of border disputes. We have no reason to make India our enemy, an editorial published in Global Times said.

Indian diplomat harassed in Pakistan, ISI tails his car to intimidate him
Posted on 5th June 2020
Pakistan's Inter-Services Intelligence (ISI) has been harassing and intimidating India’s top diplomat in Islamabad.

Reportedly, ISI has put up multiple persons in cars and bikes outside his residence to harass him.

In a note sent to the foreign ministry in Islamabad in March, Indian High Commission protested against the continuous harassment of its officers and staff by Pakistani agencies. India had cited 13 incidents of harassment of its officers and staff in the month of March itself.

COVID-19 in India live updates: 9,851 new cases take India's count to 2.26 lakh, recovery rate at 48.27%
Posted on 5th June 2020
The number of coronavirus cases in India has marked significant and consecutive highest jumps over a major part of the last two weeks.

On Thursday, the total number of confirmed cases of COVID-19 infection in India crossed the 2.25 lakh-mark, while the death toll breached the 6,300-mark as well. With this, India has now become the world's seventh worst-hit country in terms of coronavirus cases, according to the World Health Organisation's (WHO) COVID-19 tracker.

Unlock 1: Shops reopen in Mumbai on odd-even basis after remaining shut for two months
Posted on 5th June 2020
In a huge respite, business owners in Mumbai opened their shops after being closed for two months due to the COVID-19 lockdown. All shops providing non-essential services were closed by the government in March after it announced the nationwide lockdown to contain the spread of coronavirus.

Consumer confidence collapsed to historic low in May, says RBI survey
Posted on 5th June 2020
As the coronavirus pandemic continues to trouble India's economy, the consumer confidence has collapsed to a historic low, a survey by the Reserve Bank of India has showed.

Consumer confidence collapsed in May 2020, with the Current Situation Index (CSI) touching historic low and the one year ahead Future Expectations Index (FEI) also recording a sharp fall, entering the zone of pessimism, said RBI's Consumer Confidence Survey (CCS).

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for GMR Infrastructure posts bigger-than-expected Q4 loss, shares fall
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for GMR Infrastructure posts bigger-than-expected Q4 loss, shares fall

Most Read News

GDP growth in 2019-20 slows to 11-year low of 4.2%, Jan-Mar growth dips to 3.1%

COVID-19 tally in India crosses 1.73 lakh-mark, nearly 5,000 deaths; highest spike of 7,964 cases in 24 hours

Maharashtra to announce Covid-19 relief package soon: Deputy CM Ajit Pawar

Coronavirus Outbreak: In highest spike yet, India's COVID-19 tally crosses 1.90 lakh cases; 5,394 deaths

India slams Pakistan over its comments on Ram Temple construction, says should be embarrassed even to mention minorities

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2020
    All Rights Reserved
Privacy Statement