GMR Infra loss widens to Rs 2,478.78 cr in Mar-qtr

02/06/2017 16:07

Infrastructure holding company GMR Infrastructure Ltd on Friday reported its standalone net loss widened to Rs 2,478.78 crore for the January-March quarter of FY 17.

“The standalone net loss of the company stood at Rs 1,787.09 crore during the same period a year ago,” GMR Infrastructure Ltd said in a filing to the Bombay Stock Exchange on June 02, 2017.

Further, its standalone total revenue, too, decreased by 31.1 per cent to Rs 272.47 crore during Q4 2016-17, as compared to Rs 395.25 crore during the same period last year.

During the quarter under review, the total expenses of the company jumped to Rs 393.55 crore, as against Rs 292.05 crore in the corresponding quarter a year-ago.

“The company’s gross debt comes down significantly to Rs 19,856 crore from Rs 37,480 crore and net debt to EBITDA for FY 17 improves to 4.3 from 10.2 in FY16,” the company said in a statement.

“With significant reduction of gross & net debt and the improvement of Debt-to-EBITDA improving more than 100 per cent, GMR has substantially brought down its leverage,” it added.

After hitting a 52-week high, shares of the company closed at Rs 17 apiece, up 13.71 per cent, from previous close on BSE.

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