On a consolidated basis, GMR Infrastructure reported net loss of Rs 1,120.51 crore in Q3 December 2020, higher than net loss of Rs 280.74 crore in Q3 December 2019.
Net sales slumped 31.7% to Rs 1,359.10 crore in Q3 FY21 over Q3 FY20. Pre-tax loss stood at Rs 1,150 crore in Q3 December 2020 as against Rs 260 crore in Q3 December 2019. The Q3 result was declared after market hours yesterday, 12 February 2021.
The Government of India had allowed 33% capacity for the airlines from 25 May 2020 till 25 June 2020 and has gradually raised the capacity to 80% on 4 December 2020. The effective partnership between airlines and our airports have ensured safety and re-instilled confidence in passengers to fly again. Measures adopted include contactless check in, regular aircraft sanitization and protective gear distribution to passengers.
Foreign carriers started operating to and from India under 'Air Bubbles' arrangement. Such arrangements are now with 25 nations - USA, UK, Canada, Germany, France, UAE, Qatar, Maldives, Afghanistan, Bahrain, Bhutan, Iraq, Japan, Nigeria, Oman, Kenya, Ukraine, Bangladesh, Rwanda, Tanzania, Netherlands, Ethiopia, Nepal, Kuwait and Russia.
Power demand and coal supply are improving as the lockdown is easing up resulting in significantly high plant load factors (PLFs). Kamalanga's PLF stood at 77% in January 2021 from 52% in April 2020. Warora's PLF improved to 87% in January 2021 over 49% in April 2020.
With regards to Highway business, Hyderabad Vijayawada expressway has reached 103% traffic as compared to pre-COVID 19 levels in January 2021. Traffic at Ambala Chandigarh expressway has been impacted due to farmer's agitation.
PT Gems was able to showcase its strength despite COVID-19 by reporting a sales growth of 19% Y-o-Y (year-on-year) and EBITDA margin of $4.3 per ton for 9M FY2021. This was achieved due to the unique advantages of the coal mine like: firstly, its ability to switch to low stripping ratio, secondly, the short distance from pit to port and lastly, the contractor rates linked to coal prices as against the industry norms of fixed price contracts.
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Shares of GMR Infrastructure rose 0.19% to close at Rs 26.05 on Friday. GMR Infrastructure is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.
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