GMR Infrastructure on Thursday said its consolidated losses for the quarter ended September was ₹219 crore as against ₹404 crore in the year earlier period.
Total income of the company, which is into airports, power plants, road projects as well as EPC business, increased marginally to ₹2,025.72 crore (₹1,980.92 crore).
Noting that the Group had incurred losses primarily on account of losses in the energy and highway sector, thus leading to erosion of its net worth and downgrading of credit ratings for some of its borrowings, GMR Infrastructure listed various measures being initiated to address the repayment of borrowings and debt servicing in the next 12 months.
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These include monetisation of assets, raising finances from financial institutions and strategic investors, refinancing of existing debt and other strategic initiatives, it said.
Income from airports increased to ₹1,315.52 crore (₹1,176.02 crore), while that of EPC business went up to ₹231.81 crore (₹189.89 crore). Revenue from power declined to ₹178.17 crore (₹ 306.83 crore), while that from road projects was lower at ₹134.70 crore (₹147.26 crore).