GMR Infra shares zoom nearly 20% on reduction in FY17 debt
On NSE, shares of the company jumped 19.73 per cent to Rs 17.90.
By PTI | Updated:
NEW DELHI: Shares of GMR Infrastructure today soared nearly 20 per cent on reduction in the company's gross debt.
After making a positive opening, the stock further zoomed to 27 per cent to hit the intraday high of Rs 19, eventually closing at Rs 16.95, up 13.38 per cent on BSE.
GMR Infrastructure today reported widening of its standalone net loss to Rs 2,478.7 crore for the quarter ended March 31, 2017.
The company had posted standalone net loss of Rs 1,787 crore in the corresponding quarter of financial year 2015-16.
The company's standalone total revenue declined to Rs 272.47 crore compared to Rs 395.25 crore in the year-ago period.
Reflecting GMR's turnaround efforts and improvement of financial health of the group, the gross debt reduced to Rs 19,856 crore from Rs 37,480 crore, it said.
After making a positive opening, the stock further zoomed to 27 per cent to hit the intraday high of Rs 19, eventually closing at Rs 16.95, up 13.38 per cent on BSE.
GMR Infrastructure today reported widening of its standalone net loss to Rs 2,478.7 crore for the quarter ended March 31, 2017.
The company had posted standalone net loss of Rs 1,787 crore in the corresponding quarter of financial year 2015-16.
The company's standalone total revenue declined to Rs 272.47 crore compared to Rs 395.25 crore in the year-ago period.
Reflecting GMR's turnaround efforts and improvement of financial health of the group, the gross debt reduced to Rs 19,856 crore from Rs 37,480 crore, it said.
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