Showing posts with label gmr q3 fy 13 results. Show all posts
Showing posts with label gmr q3 fy 13 results. Show all posts

Wednesday, November 14, 2012

INTEREST COST INCREASES GMR'S LOSS


With  around Rs 35000cr debt GMR Infrastructure could be the next big ticket CDR candidate. The infrastructure developer, has posted a close to three times increase in net loss at Rs 179 crore for the second quarter ended September 30, 2012, as compared to net loss of Rs 62.5 crore for the corresponding period of last fiscal. Income from operations moved up marginally at Rs 2,398 crore.

The company, which has been in the red for the past many quarters, has said that the loss during the current quarter is due to the fact that there was a onetime foreign exchange gain of Rs 51 crore during the corresponding previous quarter. The loss of such a gain was compounded by the increase in expenditure and interest cost.