GMR Airports posts Rs270 million Q1 loss

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GMR Infrastructure’s airport segment posted a loss after tax of Rs270 million ($4.42 million) for the quarter ended 30 June, reversing the Rs680 million profit made in the previous year.

Net revenue for the division was down 12.5% to Rs8.23 billion, GMR says in a stock exchange filing. Earnings before interest, tax, depreciation and amortisation were down 15.2% to Rs4.12 billion.

GMR adds the passenger traffic at New Delhi airport were up 7%, while Hyderabad posted a 9% increase.