GMR Infra sees Rs 1,007 cr loss in Q4

GMR Infrastructure on Tuesday posted a net loss of Rs 1,007 crore loss in the fourth quarter 2011 against Rs 73 crore net profit in the year-ago period. HT reports.

GMR Infrastructure on Tuesday posted a net loss of Rs 1,007 crore loss in the fourth quarter 2011 against Rs 73 crore net profit in the year-ago period.

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The company said the loss was on account of one-time loss incurred from the sale of its investment in global power entity InterGen NV.

GMR had bought 50% stake in InterGEn in 2008 for Rs 5,127 crore and sold it for Rs 5,565 crore in 2010. The company incurred the loss as carrying cost on account of divestment of shares it said. GMR also suffered a loss of Rs 214 crore in Jan-March 2011 in its subsidiary, Delhi International Airport Ltd.