On the results front, the company on Thursday, after market hours, reported consolidated net loss of approximately Rs 834 crore as against Rs 336 crore loss in the January-March period in FY20. The consolidated total income for the quarter under review almost halved to Rs 1,224 crore. It was Rs 2.206 crore in Q1FY29, the management said in a regulatory filing.
"The Group has incurred losses primarily on account of losses in the energy and highway sector with a consequent erosion of its net worth, delay in debt and interest servicing, and lower credit ratings for some of its borrowings," GMR said.
At 9:50 am, the stock pared most of its gains later and was up just 1 per cent at Rs 29.05 apiece. In comparison, the S&P BSE Sensex was up 0.6 per cent.
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