Energy segment of the group suffered Rs 333 crore loss during the third quarter despite increased revenues. The segment garnered Rs 762 crore revenues during the October- December quarter against Rs 529 crore in the Q3 of FY'13.
"The loss in the current quarter has marginally increased to Rs 414 crore mainly due to commissioning of 2nd Unit of EMCO in September 2013 and 2nd unit of Kamalanga in November 2013. EMCO and Kamalanga plants are in its initial phase of operation and on stabilisation the performance is expected to improve in the coming quarters," GMR statement said.
Group's airports segment reported Rs 50 crore profit (before minority tax) during the quarter on Rs 1,605 crore revenues. The vertical suffered Rs one crore loss during the third quarter of last year on Rs 1,599 crore income.
GMR signed a definitive agreement for the divestment of the Istanbul Sabiha Gocken International Airport (ISGIA) during the quarter.
GMR's Highways vertical suffered Rs 52 crore loss during the third quarter on Rs 163 crore revenues.
