GMR Infrastructure fell 1.82% to Rs 21.60 at 10:00 IST on BSE after the company posted a consolidated net loss of Rs 393.05 crore in Q2 September 2013, higher than the consolidated net loss of Rs 179.30 crore in Q2 September 2012.
The result was announced after market hours on Tuesday, 12 November 2013.
Meanwhile, the BSE Sensex was up 12.87 points, or 0.06%, to 20,294.78.
On BSE, 1.40 lakh shares were traded in the counter compared with average volume of 10.44 lakh shares in the past one quarter.
The stock hit a high of Rs 21.85 and a low of Rs 21.60 so far during the day. The stock hit a 52-week high of Rs 25 on 17 May 2013. The stock hit a 52-week low of Rs 10.65 on 6 August 2013.
The stock had underperformed the market over the past one month till 12 November 2013, sliding 1.57% compared with the Sensex's 1.20% fall. The scrip had, however, outperformed the market in past one quarter, rising 71.07% as against Sensex's 7.05% rise.
The mid-cap company has an equity capital of Rs 389.24 crore. Face value per share is Re 1.
GMR Infrastructure's consolidated total income increased 0.86% to Rs 2500.34 crore in Q2 September 2013 over Q2 September 2012.
In a separate announcement after market hours on Tuesday, 12 November 2013, GMR Infrastructure said that the group is establishing 3x350 megawatts (MW) coal-based thermal power plant at Kamalanga in Odisha's Dhenkanal District. The first unit of 350 MW commenced generation on 30 April 2013. The second 350 MW unit of GMR Kamalanga Energy (GKEL) was declared commercially operational on 11 November 2013.
Power produced from GKEL is being supplied to GRIDCO in Odisha in line with the long-term Power Purchase Agreement (PPA). Besides Odisha, GKEL would supply power to Haryana, Bihar and other parts of the country. GKEL secured coal linkage for all its 1050 MW capacity by signing Fuel Supply Agreements with Mahanadi Coalfields, GMR said in a statement.
With the commissioning of GKEL's second unit, the GMR Group's combined generation capacity has touched 2136 MW. Projects totalling 5038 MW are under implementation. Commissioning of GKEL's second unit follows close on the heels of the synchronization of the second unit of GMR's 2x300 MW EMCO Energy at Warora in Chandrapur District of Maharashtra on 27 August 2013. EMCO's first unit of 300 MW became commercially operational in March 2013, the company said.
Speaking on the occasion, GKEL's President & Director Mr. R.V. Sheshan, said, "GKEL is the largest investment made by the GMR Group in the energy sector. It is also one of the earliest private power projects to commence commercial operations in Odisha. GKEL is also making substantial efforts so that the quality of life of individuals in neighbouring communities is enriched by its transformational educational, health care, livelihood and grassroots infrastructure development focused CSR interventions."
GMR Infrastructure is a global infrastructure major with interests in airports, energy, highways and urban infrastructure sectors.
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