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GMR Infrastructure Announces Q3 -FY 12 Results

  • GMR Infrastructure, which recently announced its Q3-FY 12 result, reported a surge in the net revenues by 47 per cent. The company said it managed to do so despite lower PLF in energy sector due to lower gas availability for both the operating gas projects and major maintenance shutdown of Vemagiri power. GMR also suffered loss of revenue in its energy sector due to floods in its South Africa coal mine.
  • “The loss of Rs229 crore incurred by Delhi Airport for the quarter, pending tariff revision, coupled with an interest charge of Rs17 crore on account of loan borrowed for Sinar Mas acquisition, corresponding revenues of which will be consolidated from next quarter, resulted in the increased consolidated loss at Rs108 crore for the quarter,” the company said.GMR’s operating toll road projects recorded a revenue growth of 8 per cent for the quarter. “The highways segment is nearing the breakeven PAT position, despite the crippling losses in Ambala Chandigarh project due to massive traffic diversion.

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