Shares of GMR Infrastructure on Monday advanced by over 11 per cent as the company’s consolidated net loss in July-September quarter narrowed to Rs 398.67 crore. (Reuters)
Shares of GMR Infrastructure on Monday advanced by over 11 per cent as the company’s consolidated net loss in July-September quarter narrowed to Rs 398.67 crore.
Reacting to this, scrip of the company gained sharply by 11.19 per cent to Rs 13.21 at BSE.
On NSE, it surged 10.92 per cent to Rs 13.20. GMR Infrastructure on Saturday said 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 regulatory filing.
“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.
The consolidated sales increased to Rs 3,070.75 crore from Rs 2,636.03 crore in the year-ago period.
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