GMR Infra’s Gross Debt Reduces Significantly Stock Soars Nearly 10%

GMR Infrastructure Limited (GIL), in its BSE filing on Friday, announced that its gross debt has come down significantly to Rs 19,856 crore from Rs 37,480 crore.

GMR Infra soared nearly 10% in the morning trade on Friday, on the BSE.

Its other performance highlights in FY17 as announced by GMR Infra -

· Net debt to EBITDA for FY 17 improves to 4.3 from 10.2 in FY 16.
· Stellar performance of airports sector drives the group’s financials -
 o Airport sector profits increase.
 o Delhi and Hyderabad airport declare dividends for the first time.
· Energy sector registers turnaround - GMR Warora achieves net profit of INR 143 cr for the first time.
· GMR Restructures Energy Platform with Induction of Tenaga as strategic partner.
· GMR adds Goa airport to its airport portfolio.
· GMR wins arbitration award for Maldives airport; received compensation.

GMR Infrastructure Limited was trading at Rs 16.30, up by Rs Rs 1.35 or 9.03% as at 10.36 on Friday, on the BSE.

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