HYDERABAD, May 30: GMR Infrastructure suffered Rs 2341.25 crore loss on consolidated basis during the quarter
ended March 31, owing to impairment losses of some of the power assets, the infra major said in a filing with bourses
The company reported Rs 4.81 crore profit after tax during the same quarter in FY18.Consolidated total income stood at Rs 2293.63 crore during the quarter under discussion against Rs 2234.88 crore in the same quarter in FY18, it said.
GMR booked an impairment loss of Rs 1,242.72 crore in the value of Group’s investment in GMR Energy Ltd and its
subsidiaries/joint ventures , while it has accounted Rs 969.58 crore as impairment loss for GMR Chhattisgarh Energy Ltd an
associate of the Group, total Rs 2212.30 crore. GMR Chhattisgarh Energy Limited (‘GCEL’) is engaged in
development and operation of 2 X 685 MW coal based power project and had declared commercial operations of Unit I on
November 1, 2015 and Unit II on March 31, 2016 of its 1,370 MW coal based thermal power plant at Raipur district
GCEL docs not have any long-term PP currently and has been incurring losses since the commencement of its commercial
operations and has accumulated losses of Rs 4,228.51 crore as on March 31, 2019.
GMR’s Airport segment reported Rs 1357.44 crore revenues with Rs 271.02 profit in Q4FY19.It garnered against Rs 1215.06 crore revenues in Q4FY18 with Rs 1,215.06 profit.