Gammon reports Rs 503 crore loss for 18 months ended March

Company's total expenses during the period under review stood at Rs 7,181 crore

Infrastructure firm Gammon India on Thursday reported a consolidated loss of Rs 502.51 crore for the 18-month period ended March 31.

In the previous period, the company had closed its accounts for nine months ended September 30, 2014 recording a consolidated net loss of Rs 728.88 crore.

Its total income from operations stood at Rs 8,099.28 crore for the 18 months ended March 31.

The company's total expenses during the period under review stood at Rs 7,181.89 crore.

"The current period ending March 31, 2016 is for 18 months and the previous period the company had closed its account for nine month period ended September 30, 2014. Therefore the figures for current audited period are not strictly comparable with those of the previous audited period," Gammon said in a filing to BSE.

 

The company said its operating results have been impacted on account of various factors including liquidity crunch, resource availability and delay in execution among other factors.

The shares of the company were trading at Rs 16.10 on the at 1245 hours, down 4.17%.