GMR Posts Q2 Net Loss of 179 crore

Hyderabad: GMR Infrastructure Limited said its consolidated net loss widened to 179 crore for the quarter ended September 30 from 63 crore net loss registered during the same period a year ago.

According to a statement issued by the Group, the loss is mainly attributable to high interest cost which rose to 485 crore from 392 crore in the year ago period.

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This is second consecutive quarter the Group posted loss due to various reasons. It reported 110 crore net loss during April-June quarter this fiscal.

Total Income increased to 2,479 crore during the quarter under review from 2106 crore for the quarter ended September 30, 2011.

Revenues from Airport segment increased by nearly 37 percent to 1,469 crore during the second quarter from 1,076 crore during the same period a year ago.

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