GMR Infrastructure announces Q3FY19 Results

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GMR is actively pursuing growth opportunities including the six domestic airports which has come up for bidding.

Business Restructuring for Unlocking Value of Airports Vertical

With a view to unlock shareholder value, GMR Board has decided to form a Sub-Committee to consider and evaluate various possible options of demerger to facilitate value unlocking in existing businesses of the group.

Land Monetization at Delhi Airport

DIAL board has approved land monetization of up to ~10 mn sq. ft. for commercial development

Resolution of Stressed Asset

· GMR Chhattisgarh Energy Ltd (GCEL) is adopting a Resolution Plan under Change of Management. Lenders have submitted their application under the ‘Sashakt’ Scheme for approval as over 2/3rd of Lenders have approved the Resolution Plan and is expected to be completed by March 2019.

· GMR Rajahmundry Energy Ltd (GREL) has received approval from all the consortium lenders for Resolution Plan. Implementation of Resolution Plan is expected to be completed shortly.

On journey to become World’s Largest Airport Developer

· Emerged as Successful Bidder for Nagpur Airport during the year.

· Operationalized Cebu Airport (MCIA). The consortium of GMR MEGAWIDE, has also submitted an unsolicited proposal for the long-term development of MCIA (including Second Runway) – Proposal is under evaluation by National Economic Development Authority (NEDA).

· GMR is actively pursuing growth opportunities including the six domestic airports which has come up for bidding.

Emerging clarity on the Regulatory Issues

· DIAL implemented Base Airport Charges (minimum Aero Revenues) from December 1, 2018 as approved by AERA.

· DIAL files tariff application with AERA for 3rd Control Period (2019-24)

Sweating of Non- Airport Assets

· GMR Bajoli Holi executes definitive agreement with Tenaga Nasional Berhad for an investment of INR 225 Cr.

· Executed Concession Agreement for development of Commercial Port in East Godavari District of Andhra Pradesh.

· Government of Andhra Pradesh signs an MOU with Haldia Petrochemicals to set up a refinery cum petrochemicals project in Kakinada SIR over an area of ~ 2,500 acres.

Business Highlights

Airport sector continues to witness high traffic growth

  • Delhi Airport – Traffic grew by 9% to 52.43 Mn for the nine months ended December 18 as compared to corresponding period last year.
  • Delhi Airport made a Cash Profit of INR 156 Cr for the quarter ended December 18 as against INR 190 Cr for corresponding period last year.
  • Hyderabad Airport – Traffic grew by 20% to 15.87 Mn for the nine months ended December 18 as compared to corresponding period last year.
  • Hyderabad Airport maintained Cash Profit of INR 216 Cr for the quarter ended December 18.
  • Cebu Airport – Traffic increased by 15% to 8.63 Mn for the nine months ended December 18 as compared to corresponding period last year.
  • Cash Profit from Cebu Airport stood at INR 43 Cr for the quarter ended December 18 as compared to INR 53 Cr for the corresponding period last year.

Operating Thermal Plants continues steady performance

  • Kamalanga has clocked PLF of 74% during the quarter ended December 18 as against 54% for the corresponding period of last year
  • Kamalanga recorded Cash Profit of INR 112 Cr during the quarter ended December 18 as against Cash Loss of INR 50 Cr during the corresponding period of last year.
  • Warora showed improvement in PLF to 75% during the quarter ended December 18 as against 65% for tphe corresponding period of last year.
  • Warora recorded Cash Profit of INR 36 Cr during the quarter ended December 18 as against INR 20 Cr during the corresponding period of last year.

Indonesia Coal Mine (PT GEMS)

  • Sales volume for the quarter ended December 18 increased by 68% to 6.9 mn tons as against 4.1 mn tons for corresponding period of last year.
  • Revenue increased to INR 1,918 Cr during the quarter ended December 18 as compared to INR 1,196 Cr during the corresponding period of last year registering an increase of 67%
  • Profit increased by 13% for the quarter ended December 18 to INR 195 Cr from INR 172 Cr during the corresponding period of last year.

About GMR Infrastructure Limited

GMR Group, a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure, is listed on Indian Stock Exchanges.

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