Signals, Powered By EquityPandit
GMR Infrastructure published their financial report for the June-end quarter of the fiscal year 2019 with a net loss of Rs. 235 crores,71% rise in the loss as against Rs. 137 crores incurred during the previous June-end quarter. Total revenue from operations during the first quarter of the current fiscal year fell to Rs. 1648 crores as compared to Rs. 2572 crores earned during the corresponding quarter of the previous year.
GMR’s profit from its flagship Airport segment fell to Rs. 277 crores, posting a 60% year-on-year decline although the Airport sector witnesses a 16% high traffic growth. The revenue from Airport business was reported at Rs. 1246 crores as against Rs. 1892.7 crores in the last year same period.
The Power segment total earning stood at Rs. 73 crores in the quarter under review as against Rs. 375 crores for the previous year quarter. The revenue from Road business inclined a bit to Rs. 144.5 crores in Q1 FY19 from Rs. 142.4 crores during Q1 FY18.
The company also said in a statement that its board has approved raising a total fund of up to Rs. 2950 crores through the issue of shares or equity-linked instrument and optionally convertible debentures.
