G M R Infrastructure said its net loss for the quarter ended September 2015 has narrowed to Rs 3,986.70. During the quarter, the in the same quarter last year.
Better operating margins from power plants and robust traffic growth in Airports have contributed to reduction in losses to Rs 3,750 million in Q2FY16 compared to loss of Rs 6,900 million in Q1FY15.
Interest in absolute terms has reduced by Rs 330 million over last quarter. This is owing to deleveraging and refinancing efforts of the group. The current interest rate cuts announced by the Banks are expected to further reduce the interest rates.
Revenues for the quarter rose 15.24% to Rs 30,907.20 million, compared with Rs 26,821 million for the prior year period.
Operating margin for the quarter stood at 29.12 percent as compared to 21.83 percent for the previous year period. Operating Income for the quarter was Rs 9,000.00 million, compared with Rs 5855.4 million in the previous year period.
Earnings per share stood negative at Rs 0.73 compared with negative Rs 1.41 in the same quarter last year.
| Quarterly Results - Consolidated (Rs in mn) |
| As at | Sep - 15 | Sep - 14 | %Change |
| Revenues | 30,907.20 | 26,820.80 | 15.24 |
| Net Profit | (3,986.70) | (6,098.60) | - |
| Diluted EPS | (0.73) | (1.41) | - |
Shares of the company gained Rs 1.02, or 8.59%, to trade at Rs 12.90. The total volume of shares traded was 1,521,430 at the BSE (11.44 a.m., Monday).
