GMR Infra sees turnaround in FY17 after airport business picks up

The company clocked a PAT of Rs 9 cr in FY17 from a loss of Rs 2,664 cr in FY16

GMR Infrastructure on Friday reported a turnaround in the current year with a profit after tax of Rs 9 crore in FY17 from a loss of Rs 2,664 crore in FY16. The return to black was spurred by good performance in its airport segment. 

The company's gross debt has come down to Rs 19,856 crore during 2016-17 from Rs 37,480 crore in the previous year. Net debt to earnings before interest, tax, depreciation and amortisation (Ebitda) for FY17 improved to 4.3 from 10.2 in FY16, the company said.

Its Delhi and Hyderabad airports have declared dividends for the first time.