Q2 results: GMR’s loss widens to ₹457 crore
GMR Infra has posted a loss of Rs 457 crore for the second quarter ended September 30, 2019, as against a loss of Rs 334 crore for the corresponding quarter of previous fiscal on a consolidated basis.
The diversified infrastructure company posted gross revenue of Rs 2,018 crore for the second quarter as against Rs 1,904 crore in Q2 of last fiscal.
The company said the value unlocking process at airport business was in the final stage.
“We have received all key approvals including Competition Commission of India and Reserve Bank of India for the Tata, GIC and SSG transaction buying 44.44% stake in the airport platform – GMR Airports Limited. The last process of regulatory clearances from the Government of India are underway and are expected over the next few weeks,” the company informed.
