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GMR net loss rises in first quarter of financial year 2015

DC CORRESPONDENT
Published Aug 15, 2014, 8:57 am IST
Updated Mar 31, 2019, 12:08 pm IST
High interest cost, scrapping of user development fee have affected the groups profits
Picture for representational purpose.
 Picture for representational purpose.

Hyderabad: Higher interest cost and scrapping of user development fee have increased GMR Infrastructure’s net loss to Rs 593 crore in the first quarter of financial year 2015 compared to a net loss of Rs 326 crore in the yearago period.

Its total income, which includes other income, rose to Rs 2,796 crore in the Q1FY15 from Rs 2,689 crore in the corresponding period in the last financial year.

 

It shelled out Rs 832 crore towards finance cost during the quarter against Rs 610 crore in the same quarter last year.

Revenues from airports segment stood at Rs 1,289 crore for the quarter under discussion against Rs 1,395 crore during the same quarter a year ago.

The Group runs two international airports in India — New Delhi and Hyderabad. Gross revenues from energy segment were at Rs 1,153 crore against Rs 932 crore in Q1 FY14.

“Higher interest of EMCO and Kamalanga power projects and non-availability of user development fee Rs 89 crore) at Hyderabad Airport along with higher depreciation of Rs 142 crore on account of Companies Act, 2013 and COD of remaining units of our thermal power plants, have impacted the profits of the group,” it said.

 

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