GMR Infra firms up after Q3 net narrows to Rs 379 cr

Shares of GMR Infrastructure were up over 1%, in an otherwise weak market, after net loss for the December 2015 quarter reduced to Rs 379 crore compared with Rs 638 crore in the same quarter last year because of higher operating margins from power projects.

Consolidated total income increased 29% to Rs 3,564 crore during December 2015 quarter from Rs 2,761 crore in the quarter ended December 2014.

EBITDA in the energy sector has increased by more than 7 times to Rs 580 crore for the December 2015 quarter compared with Rs 71 crore in the same quarter last year, the company said in a release.
 

The company's EBIDTA more than doubled to Rs 1,399 crore in the December quarter compared with Rs 671 crore in the year ago period.

The stock opened at Rs 10.70 and touched a high of Rs 10.80. At 12:10pm, over 24.8 million shares were traded on both the stock exchanges.