GMR Infrastructure Limited on Wednesday said that its loss for the second quarter ended 30 September widened to Rs 393 crore against Rs 179 crore during the same quarter a year ago due to high interest and losses in energy vertical.
According to a statement issued by the company, gross revenue during the quarter under discussion was at Rs 2,419 crore against Rs 2,399 crore during the same period last fiscal.
GMR had to shell out Rs 684 crore towards interest charges during the July-September quarter as compared to Rs 485 crore in the year-ago period. Group chairman G M Rao said the macro-economic situation is showing signs of improvement. However, sustaining this will need continued focus on reforms and infrastructure development. It is important to debottleneck crucial areas like power generation and highways, without which the targeted growth rate will be challenging.
'We continue to execute our ‘Asset Light Asset Right’ strategy, with the theme of 'develop, build, create value, divest, and reinvest' for our portfolio of assets. At the same time, we continue to explore opportunities with low capex requirements and quick cash generation,' Rao said.
The airport operations at Delhi and Hyderabad are stable and both are experiencing healthy growth of passengers, especially international. The Istanbul airport turned PAT positive for the current quarter. On the regulatory side, the group company has already filed the tariff application for Hyderabad airport, he said.
'In our energy portfolio, the lack of gas continues to affect us. This is being offset to some extent as our coal based plants are now stabilising. Recently, we commissioned the second unit of 300 MW at EMCO, the 350-MW second unit at Kamalanga and the transmission unit at Maru,' he said.
According to a statement issued by the company, gross revenue during the quarter under discussion was at Rs 2,419 crore against Rs 2,399 crore during the same period last fiscal.
GMR had to shell out Rs 684 crore towards interest charges during the July-September quarter as compared to Rs 485 crore in the year-ago period. Group chairman G M Rao said the macro-economic situation is showing signs of improvement. However, sustaining this will need continued focus on reforms and infrastructure development. It is important to debottleneck crucial areas like power generation and highways, without which the targeted growth rate will be challenging.
'We continue to execute our ‘Asset Light Asset Right’ strategy, with the theme of 'develop, build, create value, divest, and reinvest' for our portfolio of assets. At the same time, we continue to explore opportunities with low capex requirements and quick cash generation,' Rao said.
The airport operations at Delhi and Hyderabad are stable and both are experiencing healthy growth of passengers, especially international. The Istanbul airport turned PAT positive for the current quarter. On the regulatory side, the group company has already filed the tariff application for Hyderabad airport, he said.
'In our energy portfolio, the lack of gas continues to affect us. This is being offset to some extent as our coal based plants are now stabilising. Recently, we commissioned the second unit of 300 MW at EMCO, the 350-MW second unit at Kamalanga and the transmission unit at Maru,' he said.