GMR Infrastructure reports Q1 loss of Rs 94 crore

BANGALORE: Bangalore-based, GMR Infrastructure net loss for the first quarter of the current financial year widened due to loss incurred at Delhi International airport and power division coupled with higher tax out go.

The Infrastructure company posted a quarterly loss of Rs 94 crore for quarter ended June 2012 from Rs 67 crore last fiscal. "DIAL posted a loss of 130 crore and one time tax reversal to the tune of Rs 85 crore for Vemagiri power plant contributed to the losses," said A Subbarao CFO GMR Group

However, the company's net sales jumped by 23% to Rs 2562 crore in the first quarter of financial year 2013 due to increase in engineering procurement construction division turnover and higher aero revenue a Delhi international airport.

The company's stock was trading at Rs 21.70 down 2.59% on BSE on Friday.