GMR Infra's losses double to Rs 217 crore

Last Updated: Sat, Feb 09, 2013 08:48 hrs

GMR Infrastructure's loss has doubled to Rs 217.45 crore in third quarter FY13 as against Rs 107 crore loss in same period last year owing to higher interest burden.

The Bangalore-based infrastructure major with interests in power, highways and airports reported a growth in revenue and earnings before interest, tax and depreciation but its loss widened on account of increase in interest costs.

Consolidated revenue rose from Rs 2,223.35 crore to Rs 2,378.02 crore. Profit before interest and exceptional items grew to Rs 359 crore in third quarter FY13 as against Rs 276 crore in same period last year.

All business divisions except the power segment posted a profit. Loss in power segment widened from Rs 14 crore to Rs 57.5 crore.

However, the overall result was impacted due to a rise in interest burden from Rs 423.86 crore to Rs 525.27 crore.

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