GMR Airports Infra

GMR Infra posted a good performance for Q2FY16, in the sense that its loss of the quarter reduced from Rs.610 crore in previous Q2 and from Rs.429 crore in current Q1 to Rs.399 crore. More than the reduction in net loss, the encouraging aspect is the 52% (YoY) increase in EBITDA. Margins rose from 27% to 36%. The company had a cash profit of Rs.134 crore v/s loss of Rs.206 crore (YoY).

The company’s interest outgo as at 30th Sept 2015 stands at Rs.1779 crore v/s Rs.1677 crore (YoY), up 6%. The improvement in EBITDA was mainly on account of the Energy sector which showed an over 6 times increase in EBITDA. GMR Vemagiri Power Generation Ltd (370MW) was operational during the quarter and achieved a PLF of 22%. The airport segment also did well, showing a 32% jump in EBITDA. That of Delhi Airport rose 18% and Hyderabad was up 23%.