INSUBCONTINENT EXCLUSIVE:
GMR Infrastructure Ltd today reported widening of net loss at Rs 235.14 crore in the first quarter ended June 30, 2018.
The company had
posted a net loss of Rs 136.6 crore in the same quarter last fiscal, GMR Infrastructure said in a BSE filing.
The company also said its
board in a meeting held yesterday has approved raising a total fund of up to Rs 2,950 crore through issue of shares or equity linked
instrument and optionally convertible debentures.
Income from operations during the first quarter this fiscal stood at Rs 1,648.04 crore
It was the Rs 2,572.86 crore in the year-ago period.
Revenue from airports business was at Rs 1,246.77 crore as against Rs 1,892.79 crore in
the same period last fiscal, it said.
Power segment posted a revenue of Rs 72.92 crore as compared to Rs 374.51 crore in the first quarter
last year, while the EPC vertical clocked Rs 229.67 crore as against Rs 223.42 crore in the year-ago quarter, it added.
Roads business had a
revenue of Rs 144.51 crore during the first quarter as against Rs 142.45 crore in the same period a year ago, the company said.
On the fund
raising, the company said its board has approved raising up to Rs 2,500 crore in one or more tranches through issue of equity shares or
equity linked instruments, debentures or any other securities.
Besides, the board also gave nod to raise up to Rs 450 crore in one or more
tranches through issue of optionally convertible debentures (OCDs)
These will be subject to shareholders' approval, it added
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