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GMR Infra shares surge 20% on fall in debt

LiveMint logoLiveMint 02-06-2017 PTI

New Delhi: Shares of GMR Infrastructure on Friday soared nearly 20%on reduction in the company’s gross debt. After making a positive opening, the stock further zoomed 19.73% to Rs17.90 as the trade progressed on BSE.

On NSE, shares of the company jumped 19.73% to Rs17.90. GMR Infrastructure on Friday reported widening of its standalone net loss to Rs2,478.7 crore for the quarter ended 31 March 2017.

The company had posted standalone net loss of Rs1,787 crore in the corresponding quarter of financial year 2015-16. The company’s standalone total revenue declined to Rs272.47 crore compared to Rs395.25 crore in the year-ago period.

Also Read: GMR Infra Q4 loss widens to Rs2,479 crore

Reflecting GMR’s turnaround efforts and improvement of financial health of the group, the gross debt reduced to Rs19,856 crore from Rs37,480 crore, it said.

GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.

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