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Wednesday, October 4, 2023
HomeUncategorizedGMR Infra Q4 net loss increases to Rs 953.50 cr

GMR Infra Q4 net loss increases to Rs 953.50 cr

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GMR Infrastructure, a diversified group with interest in energy and airport sectors, saw its net loss on consolidated basis widen to Rs 953.5 crore on higher expenses during the fourth quarter ended March 31, 2015-16.

GMR-AVThe company had clocked net loss after tax, minority interest and share of loss of associates at Rs 891.90 crore in the corresponding quarter of the 2014-15 fiscal.

Its total income from operations rose 28.27 per cent to Rs 3,736.68 crore, from Rs 2,912.91 crore in the year-ago period, GMR said in a regulatory filing to BSE.

For the entire 2015-16, the company’s net loss stood at Rs 2,161 crore, as against Rs 2,733.29 crore in the previous fiscal. It total income from operations rose to Rs 13,357.66 crore last fiscal, from Rs 11,087.68 crore.

The company said in a statement that there is a significant improvement in EBIDTA – increase of 67 per cent to Rs 4,264 crore last fiscal, from Rs 2,555 cr in 2014-15.

GMR’s energy segment turned the corner with over 4 times improvement in EBITDA with “significant reduction in losses by Rs 960 crore despite the additional losses of Rs 688 crore on account of commissioning of Chhattisgarh (Rs 454 crore) and Rajahmundry (Rs 234 crore) power projects”.

GMR Infrastructure said induction of Tenaga as strategic partner with investment of Rs 2,000 crore provides GMR Energy a stable platform to strengthen the balance sheet and further improve efficiencies.

“Leverage ratios show remarkable improvement to net debt to EBITDA ratio improves to 9.4x in FY16 from 15.5x in FY 15 Interest Coverage ratio improves to 1.05x in FY16 from 0.72x in FY15,” it said.

The company said its EBITDA in Airport Sector has increased by 40 per cent to Rs 2,387 crore in 2015-16 from Rs 1,706 crore in the previous fiscal and the vertical has witnessed strong traffic growth in all the airports.

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