GMR Infrastructure takes Rs 2,212 crore impairment on two power plants
GMR Infrastructure (GIL) has taken an impairment of Rs 2,212 crore on its balance sheet for its Rajahmundry and Chhattisgarh power plants, resulting in a loss of Rs 2,353 crore for the quarter ended March 31, and of Rs 3,466 crore for financial year 2018-19.
All three business segments of the company have, however, reported a profit. The airport business showed one of Rs 1,375 crore for FY19.
On Wednesday, it closed the issuance of $350 million bonds of a 10-year tenure for Delhi Airport at 6.45 per cent, for funding an expansion from 66 million to 100 million passengers a year. “We got offers of $2.5 billion for the issue, which shows the confidence investors have in our strategic investor and the quality of our offering,” Saurab Chawla, executive director, finance, for the GMR group, told Business Standard.
