Hyderabad: GMR Infrastructure today posted an Rs 593-cr loss on a combined basis for the quarter finished June 30 as against a net loss of Rs 326 cr in the same period last year, due to greater interest price, depreciation & scrapping of user development fee by AERA at Hyderabad airport.
In a processing to the STOCK exchange, the company said its total income (including other income) period increased to Rs 2,796 cr from Rs 2,689 crore a year ago.
The company spent Rs 832 cr towards fund price during the quarter against Rs 610 cr in the same quarter last year.
Revenues from air-ports segment was stood at Rs 1,289 cr for the quarter under conversation against Rs 1,395 cr during the same quarter a year ago.
The Group runs 2 international air-ports in India – New Delhi & Hyderabad.
Gross earnings from energy segment were at 1,153 cr against Rs 932 cr in Q1 FY14.
“Higher interest charge of EMCO & Kamalanga power projects & non-availability of UDF (Rs 89 crore) at Hyderabad Airport along with greater depreciation of Rs 142 cr on account of New Companies Act, 2013 & COD of staying units of our Thermal Power Plants, have affected the profits of the team during the quarter,” the filing said.
Group Chairman G M Rao said the Group will continue to focus on operational quality & strengthening of balance sheet through deleveraging by way of the Asset Light Asset Right Strategy. Going forward, the Group will explore re-financing of the debt in line with recent RBI policy announcement for infrastructure financing.
In a separate filing, GMR said the Board of Directors of the company at its meeting held yesterday accorded approval for increasing of FUNDS through issue of non-convertible debentures, equity shares/ equity-linked instruments or any other securities up to an amount of Rs 2,500 cr, as an allowing quality, topic to the approval of the shareholders.
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