GMR Infrastructure has posted a ₹749-crore loss for the second quarter ended September 30, 2020, as against a loss of ₹457 crore on a consolidated basis.
The second quarter income of the diversified infrastructure company was down at ₹1,448 crore as against ₹2,164 crore for the corresponding quarter of last fiscal.
According to the regulatory filing, the total expenses during the second quarter were ₹2,270 crore as against ₹2,448 crore for the corresponding quarter of last year.
Covid effect: GMR Infra posts loss of ₹834 crore in Q1; revenue dips to ₹1,134 crore
Impact of travel curbs
GMR results were announced late on Tuesday. The company’s performance was impacted due to the Covid pandemic-induced lockdown. Due to Covid, many countries have implemented travel restrictions. The Group has majority of its subsidiaries, JVs and associates in the airport sector, energy, highways and urban infra sectors. The company management believes Covid-19 may impact the businesses in the short term but it does not anticipate medium to long term risk to business prospects.