GMR Infrastructure today said its consolidated net loss in July-September quarter narrowed to Rs 398.67 crore on the back of better operating margins from power plants and robust traffic growth in airports.
The company had reported a net loss of Rs 609.86 crore in the year-ago period, it said in a filing to BSE.
“Better operating margins from power plants and robust traffic growth in airports have contributed to reduction in losses (from ordinary activities after tax but before minority interest and share of loss from associates) to Rs 375 crore in Q2FY16”, the company said in a press statement.
The consolidated sales of the company increased to Rs 3,070.75 crore over Rs 2,636.03 crore in the year-ago period, it said.
The interest in absolute terms has reduced by Rs 33 crore over the last quarter. This is owing to deleveraging and refinancing efforts of the group, adding that the current rate cuts announced by the banks are expected to further reduce the interest rates.
14/11/15 PTI/Financial Express
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The company had reported a net loss of Rs 609.86 crore in the year-ago period, it said in a filing to BSE.
“Better operating margins from power plants and robust traffic growth in airports have contributed to reduction in losses (from ordinary activities after tax but before minority interest and share of loss from associates) to Rs 375 crore in Q2FY16”, the company said in a press statement.
The consolidated sales of the company increased to Rs 3,070.75 crore over Rs 2,636.03 crore in the year-ago period, it said.
The interest in absolute terms has reduced by Rs 33 crore over the last quarter. This is owing to deleveraging and refinancing efforts of the group, adding that the current rate cuts announced by the banks are expected to further reduce the interest rates.
14/11/15 PTI/Financial Express
