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GMR Infra Q4 net loss widens to 954 crore
The company said its Ebitda in the airports sector has increased by 40 per cent to Rs 2,387 crore in FY16 from Rs 1.706 crore during the last financial year. “The airports vertical has witnessed a strong traffic growth in all the airports.
Hyderabad: Bengaluru-based infrastructure major, GMR Infrastructure Limited, has reported a net loss of Rs 954 crore on higher expenses during the fourth quarter ended March 2016. The infrastructure conglomerate, with interests in airports, energy, transportation and urban infrastructure, had incurred a net loss of Rs 892 crore in the corresponding quarter of the previous year.
Its total income from operations, however, rose 28.28 per cent to Rs 3,737 crore, as against Rs 2,913 crore during the same period a year ago. For the full year ending March 2016, GMR Infra’s net loss stood at Rs 2,161 crore, as against Rs 2,733 crore in the previous fiscal. Its total income from operations grew 20.47 per cent to Rs 13,358 crore last fiscal, from Rs 11,088 crore in the previous financial year.
Resolution of regulatory bottlenecks in the power sector, better operating margins from power plants and robust traffic growth in airports have contributed to the reduction in losses by Rs 960 crore during the year, the company said in a press release on Tuesday. This is despite the additional losses of Rs 688 crore on account of commissioning of Chhattisgarh (Rs 454 crore) and Rajamahendravaram (Rs 234crore) power projects, it added.
The company said induction of Tenaga Nasional Berhad, Malaysia, as a strategic partner with an investment of Rs 2,000 crore, provided GMR Energy a stable platform to strengthen the balance sheet and further improve efficiencies. GMR Infra’s Ebitda (earnings before interest, taxes, depreciation and amortization) in the energy sector has increased by over four-fold to Rs 1, 161 crore in the 2015-16 financial year, from Rs 222 crore in FY15.
The company said its Ebitda in the airports sector has increased by 40 per cent to Rs 2,387 crore in FY16 from Rs 1.706 crore during the last financial year. “The airports vertical has witnessed a strong traffic growth in all the airports.
While the Ebitda in the Delhi airport by 23 per cent for FY16 to Rs 1,729 crore from Rs 1,396 crore in FY15, Ebitda in the Hyderabad airport doubled to Rs 367 crore from Rs 184 crore due to restoration of UDF (user development fee) from November 2015,” the company said, adding that operations of Cebu airport and Delhi duty-free had further buoyed the airports Ebitda. GMR Infrastructure’s scrip ended the trade at Rs 11.26 on the BSE on Tuesday, down 2.09 per cent, over the previous close of Rs 11.50 per share.
