GMR Infrastructure jumped 13.71% to Rs 17 at 15:25 IST on BSE after the company announced a significant reduction in gross debt at the time of announcing Q4 results during market hours today, 2 June 2017.
Meanwhile, the S&P BSE Sensex was up 100.60 points, or 0.32% to 31,238.19. The S&P BSE Mid-Cap index was up 105.29 points, or 0.72% to 14,801.48.The stock surged on high volume. On the BSE, 2.74 crore shares were traded in the counter so far, compared with average daily volumes of 21.12 lakh shares in the past one quarter. The stock hit a high of Rs 19 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 14.90 so far during the day. The stock hit a 52-week low of Rs 10.25 on 9 November 2016.
The stock dropped 11.28% over the past one month till 1 June 2017, underperforming the Sensex's 4.08% rise. The scrip also underperformed the market in past one quarter, sliding 8.56% as against Sensex's 7.43% rise. The scrip, however, outperformed the market in past one year, surging 33.72% as against Sensex's 16.56% rise.
The mid-cap company has equity capital of Rs 603.59 crore. Face value per share is Re 1.
GMR Infrastructure reported net loss of Rs 2478.78 crore in Q4 March 2017, higher than net loss of Rs 1787.09 crore in Q4 March 2016. Total revenue dropped 31.06% to Rs 272.47 crore in Q4 March 2017 over Q4 March 2016.
On a consolidated basis, GMR Infrastructure reported net loss of Rs 574.59 crore in the year ended 31 March 2017 (FY 2017), lower than net loss of Rs 2712.50 crore in FY 2016. Total revenue rose 3.54% to Rs 11631.86 crore in FY 2017 over FY 2016.
Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 12% to Rs 3497 crore in FY 2017 over FY 2016 following a robust improvement in performance of airports and energy verticals. EBITDA margin improved to 42% in FY 2017 from 38% in FY 2016.
GMR Infrastructure said that gross debt reduced significantly to Rs 19856 crore in FY 2017 from Rs 37480 crore in FY 2016. Net debt to EBITDA ratio for FY 2017 improved to 4.3 from 10.2 in FY 2016.
GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.
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