GMR Infra’s scrip rises 14%, as gross debt falls

Mumbai, June 2 (IANS) The scrip of global infrastructure conglomerate GMR Infrastructure on Friday surged by 13.71 per cent to Rs 17 on the BSE, after the company reported that its gross debt had fallen to Rs 19,856 crore from Rs 37,480 crore.

On a fiscal 2016-17 consolidated basis, the company reported a net profit (before minority and share of associates) of Rs 8.78 crore from a net loss of Rs 2,664.36 crore during the previous financial year.

However, the company's net loss (after minority and share of associates) declined to Rs 575 crore from Rs 2,713 crore reported for 2015-16.

The total consolidated revenue of the company for 2016-17 stood at Rs 11,631.86 crore -- up 3.54 per cent -- from Rs 11,233.94 crore reported during last year.

On a standalone basis, the company's fourth quarter (Q4) net loss stood at Rs 2,479.81 crore from a loss of Rs 1,787.30 crore reported for the corresponding period of 2015-16.

The standalone net loss for the fiscal stood at Rs 3,684.11 crore from Rs 1,720.24 crore for 2015-16.

The group has interests in airport, energy, transportation and urban infrastructure.

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