GMR Infrastructure Limited, Q3 FY 15 Performance Highlights
Bengaluru, 14th February, 2015: The consolidated Income from Operations for the quarter has increased by 3% from Rs. 2,682 crore in Q2-FY15 to Rs. 2,761 crore and it has increased by 6% for the nine months period ended from Rs. 7,692 crore to Rs. 8,175 crore. EBITDA for the quarter has increased by 14% from Rs. 590 crore in Q2-FY15 to Rs. 671 crore.

The increase is powered by robust traffic growth in Delhi and Hyderabad airports and higher offtake in Kamalanga power plant.

Key highlights for the quarter are:-

  • Delhi Airport (DIAL) current tariffs to continue – Delhi High Court vide order dated 22nd January 2015 has directed that the Current Tariffs in DIAL are to continue and be revised only post disposal of its appeals against the First Control Period Tariff by AERAAT.

  • DIAL Raises USD 288.75 Mn by way of Bond Issuance - DIAL has raised USD 288.75 Mn of 6.125% Senior Secured Fixed Rate Notes Due by 2022 to replace part of its existing External Commercial Borrowing.

  • Mactan-Cebu International Airport (GMCAC) achieved financial closure – GMCAC achieved financial closure to fund 70% of Total project cost of USD 750 mn through consortium of banks including multilateral institution such as ADB.

  • GMR Male International Airport Limited (GMIAL) submits claims for USD 803 Mn - GMIAL in November submitted claim of USD 803 Million for loss caused due to wrongful repudiation of the concession agreement for Male International Airport.

  • Chhattisgarh synchronization completed - First 685 MW unit of GMR Chhattisgarh Energy Limited’s (1370 MW) supercritical coal-based thermal plant was synchronized with the Grid using fuel oil in October 2014.

  • GMR led consortium wins DFCC Eastern Corridor Railway Project – GMR Infrastructure led Consortium has emerged as Lowest bidder in International Competitive bidding for two packages in Eastern Dedicated Freight Corridor project involving construction of 417km double track railway line from Mughalsarai to New Bhaupur on EPC Basis.

Financial Highlights for Q3 FY15
[Rs in Crore)
Particulars Quarter Ended Nine months ended Year Ended Mar 31, 2014
Dec 31, 2014 Sep 30, 2014 Dec 31, 2013 Dec 31, 2014 Dec 31, 2013
Income from Operations 2,761 2,682 2,638 8,175 7,692 10,653
EBITDA 671 590 711 1,874 1,883 2,595
Finance costs 928 845 760 2,604 2,053 2,972
Other Income 81 96 66 243 201 287
Exceptional Items - (18) - (36) 92 1,820
Depreciation 469 475 373 1,397 1,017 1,455
PBT (644) (651) (356) (1,920) (895) 275
Tax 25 39 58 90 181 166
PAT before Minority (669) (690) (414) (2,010) (1,076) 108
PAT After Minority (638) (610) (441) (1,841) (1,160) 10

About GMR Infrastructure Limited:

GMR Infrastructure Ltd is a Bangalore headquartered Infrastructure group with interests in Airports, Energy, Highways and Urban Infrastructure sectors. It has successfully employed the public-private partnership model to build a portfolio of high quality assets. The Company has 15 Power generation assets of which 8 are operational and 7 are under various stages of development. In the Highways sector the Group is operating 9 assets (including 2 in which the Group holds minority interest) across the country. In the Airports sector, the Company operates India’s busiest airport, the Indira Gandhi International Airport in New Delhi, where it has built a brand new integrated terminal T3. It has also developed and commissioned the Greenfield international airport at Hyderabad as a gateway to south and central India. The Group has taken over the Mactan-Cebu International Airport project in the Philippines for renovation, operation and maintenance with a concession period of 25 years. GMR Group is also committed to social development initiatives and executes these through its Corporate Social Responsibility arm, the GMR Varalakshmi Foundation which carries out work in 24 locations.

For further information about GMR Group, visit http://www.gmrgroup.in/index.html

GMR Infrastructure Limited is proposing, subject to market conditions and other considerations, a rights issue of its equity shares and has filed a Draft Letter of Offer with SEBI and the Stock Exchanges. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the website of the Lead Managers at www.jmfl.com, www.axiscapital.co.in, www.icicisecurities.com and www.sbicaps.com. Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to the section titled “Risk Factors” of the Draft Letter of Offer for details of the same.