GMR infrastructure drops after elevated loss in December quarter – NDTV Revenue

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GMR infrastructure falls after increasing loss in December quarter

Shares of the airport operator and infrastructure developer – GMR Infrastructure – fell 2.87% to an intraday low of Rs 25.30 after its loss widened to quarter ended December 2020. GMR Infrastructure's consolidated web loss prolonged to Rs 1,120.51 crore in comparison with a lack of Rs 280.74 crore in the identical quarter final yr. Its working revenue fell 32 % to Rs 1,359 crore from Rs 1,991 crore final yr.

GMR Infra airport visitors in Delhi elevated from four.10 million to 7.55 million sequentially and on an annual foundation the visitors decreased by 60% within the December quarter. At Hyderabad Airport, visitors fell from 1.53 million to 2.86 million sequentially and declined 52% on an annual foundation, GMR Infra mentioned in a press launch.

“Presently the Authorities of India has licensed 80% of airline capability. Because the capability restriction eases, we anticipate a big enhance in visitors. Moreover, mass Covid vaccination and speedy testing will additional increase air journey. Many nations have licensed and authorized emergencies. The worldwide vaccination marketing campaign has began with greater than 130 million doses administered as of February 7, 2021. Mass vaccination at a speedy fee would pave the way in which for speedy progress in trafficking, ”GMR Infra mentioned in a press release.

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GMR Infrastructure & # 39; s highways enterprise noticed a blended efficiency as revenues from its Hyderabad – Vijayawada freeway elevated by 17% each year Rs 94 crore within the December quarter in comparison with Rs 80 crore in the identical quarter in the identical quarter. ;final yr. Whereas revenues from the Ambala – Chandigarh freeway fell 87% each year to Rs 2 crore within the third quarter from Rs 15 crore the earlier yr.

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As of 11:44 am, shares of GMR Infrastructure have been buying and selling 2.1% greater at Rs 25.50, underperforming the Sensex which was up 1%.

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