GMR Infra climbs 13% post second quarter earnings

Shares of GMR Infrastructure on Monday advanced by 14 per cent as the company's consolidated net loss in July-September quarter narrowed to Rs 398.67 crore.

Reacting to this, scrip of the company gained sharply by 14.05 per cent to Rs 13.55 at BSE. It ended 13.13 per cent up.

GMR Infrastructure on Saturday said consolidated net loss in July-September quarter narrowed to Rs 398.67 crore on the back of better operating margins from power plants and robust traffic growth in airports.

The company had reported a net loss of Rs 609.86 crore in the year-ago period, it said in a regulatory filing.

"Better operating margins from power plants and robust traffic growth in airports have contributed to reduction in losses (from ordinary activities after tax but before minority interest and share of loss from associates) to Rs 375 crore in Q2FY16", the company said.

The consolidated sales increased to Rs 3,070.75 crore from Rs 2,636.03 crore in the year-ago period.