GMR Infra Narrows Net Losses

GMR Infrastructure Limited's consolidated net loss for the quarter ended March 31 narrowed to Rs 1,126.82 crore against Rs 2,341.24 crore loss in the January-March period in FY19, a filing from the company said. The consolidated total income for the quarter under discussion was at Rs 2,554.21 crore as compared to Rs 2293 crore in Q4FY19, it said. For the full year FY20, GMR reported a total loss of Rs 2,198.49 crore against Rs 3,466.41 crore in FY19. The Group has incurred losses primarily on account of losses in the energy and highway sector with a consequent erosion of its net worth, delay in debt and interest servicing and lower credit ratings for some of its borrowings, GMR said. The Group has majority of its subsidiaries, JVs and associates operating in Airport sector, Energy Sector, Highway sectors and Urban Infra sector.