GMR Infrastructure Q3 loss at Rs. 566 crore

GMR Infrastructure on Wednesday reported a consolidated net loss of Rs. 565.94 crore for the quarter ended 31 December 2017. The company had clocked a net profit of Rs. 643.44 crore in the corresponding quarter of 2016-17, it said in a BSE filing. Total income from operations declined to Rs. 2,295.83 crore during the quarter under review as against Rs. 2,587.26 crore in the year-ago period. Total expenses declined to Rs. 2,487.90 crore as against Rs. 2,623.74 crore in the corresponding quarter a year ago. GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure. Its portfolio comprises Indira Gandhi International Airport, New Delhi; Rajiv Gandhi International Airport, Hyderabad; Mactan Cebu International airport in partnership with Megawide in the Philippines and the Greenfield Airport at Mopa in Goa. The company has won the rights to develop and operate a greenfield airport at Heraklion, Crete, Greece in partnership with GEK Terna and is also developing smart cities adjacent to Delhi and Hyderabad airports.