GMR Infra not to sell controlling stake in Hyderabad Airport

NEW DELHI: GMR Infrastructure today denied selling controlling stake in Hyderabad Airport but added that it is exploring opportunities to raise funds.

"We completely deny sale of controlling stake in Hyderabad Airport. We wish to submit that GMR Group has been continuously exploring opportunities to raise necessary funds for the group," GMR Infrastructure said in a clarification to the BSE.

The company was reacting to speculations about the company being in advanced negotiations regarding sale of controlling stake in Hyderabad Airport.

For the quarter ended March 31, 2016, the company reported a consolidated net loss of Rs 953.5 crore as against a net loss of Rs 891.9 crore in the year-ago period.

Its total income from operations rose 29.12 per cent to Rs 3,708.37 crore during the quarter from Rs 2,872.01 crore in the year-ago period.

Shares of GMR Infrastructure were trading at Rs 12.95 apiece, up 1.49 per cent, on the BSE in the morning session.