GMR Infra shares zoom nearly 20 pc on reduction in FY17 debt

Shares of GMR Infrastructure today

soared nearly 20 per cent on reduction in the company's gross

debt.

After making a positive opening, the stock further zoomed

19.73 per cent to Rs 17.90 as the trade progressed on BSE.

On NSE, shares of the company jumped 19.73 per cent to Rs

17.90.

GMR Infrastructure today reported widening of its

standalone net loss to Rs 2,478.7 crore for the quarter ended

March 31, 2017.

The company had posted standalone net loss of Rs 1,787

crore in the corresponding quarter of financial year 2015-16.

The company's standalone total revenue declined to Rs

272.47 crore compared to Rs 395.25 crore in the year-ago

period.

Reflecting GMR's turnaround efforts and improvement of

financial health of the group, the gross debt reduced to Rs

19,856 crore from Rs 37,480 crore, it said.

GMR Group is a leading global infrastructure conglomerate

with interests in airport, energy, transportation and urban

infrastructure.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)