GMR Infrastructure Limited FY2018 Performance Highlights
- Airport sector continues to witness high traffic growth of 15% for the year.
- Non aero revenues grew by 18% in Delhi airport, 12% in Hyderabad airport and 33% in Cebu airport.
- Received regulatory clarity on long pending issues for Delhi airport
- Favorable judgment from TDSAT pertaining to issue of 1st control period
- AERA has issued a Consultation Paper proposing applicability of Base Airport Charges (Floor Aeronautical Revenue)
- Commenced construction of Goa airport during Q4-FY18.
- Energy sector performance improved significantly on account of CERC orders&high PLF in Q4-FY18 in both Kamalanga &Warora power plants.
- Warora profit increased by 35% YoY to Rs. 193 Cr from Rs. 143 Cr.
- Kamalanga loss fall by 74% YoY to Rs. 78 Cr from loss of Rs. 298 Cr.
- Indonesian Coal mines (PT GEMS) continue to excel with its profit increasing by 234% to Rs. 793 Cr for the year from Rs. 237 Cr for the last year.
- Consolidated Cash Profit from continuing operations for the year was Rs. 347 Cr.
- Traffic grew by 14% for the year and 15% for the quarter as compared to corresponding period.
- Non Aero revenue continues to show high growth with increase of 18% for the year to Rs. 1,800 Cr from Rs. 1,528 Cr.
- Aero Revenues declined due to implementation of tariff order by AERA w.e.f. July 2017, however, the overall impact has reduced due to healthy growth in traffic and non-aero revenues.
- TDSAT (the appellate tribunal) has passed order advising AERA to providereturn on Refundable Security Deposit (RSD),applicable from start of 1st control period, which were earlier given nil return.
- AERA has recently issued a Consultation Paper proposing applicability of Base Airport Charges (Floor Aeronautical Revenue) which provides visibility of sustainable revenues and cash flow.
- Traffic increased by 20% for year and 25% for the quarter as compared to corresponding period.
- Revenue registered growth of 13% for the year to Rs. 1,249 Cr from Rs. 1,105Cr. Non aero revenues grew by 12% to Rs. 444 Cr from Rs. 397 Cr
- Profitfor the year increased significantly by 39% to Rs. 603 Cr from Rs. 434 Cr.
- Traffic increased by 12% for the year as well as for the quarter.
- Revenue grew by 23% for the year to Rs. 315 Cr from Rs. 257 Cr with growth of 33% in non-aero revenue.
- Profit increased by 24% for the year to Rs. 158 Cr from Rs. 128 Cr
- Construction of new terminal is almost complete as per the schedule and expected to be opened next month.
- Commenced construction of the airport during Q4-FY18.
- Clocked PLF of 65% for Q4-FY18 against 54% for the previous quarter. For the year, average PLF was at 61%.
- The plant started getting coal under the Shakti scheme from Mar’18, which will further improve the operations.
- Received favorable CERC orders for Change in Law and Coal Pass Through, which facilitated recognition of additional revenue of Rs. 354 Cr for FY18 (including arrears of Rs. 115 Cr).
- Interest cost of the year reduced by Rs. 109 Cr due to pre-payment of term loans.
- Owing to above, losses for the year reduced to Rs. 78 Cr from Rs. 298 Cr for the previous year.
§ PLF for the quarter increased to 78% for Q4-FY18 against 65% for the previous quarter. For the year, PLF was maintained at 71%.
- Received favorable CERC orders for Change in Law and Coal Pass Through, which facilitated recognition of additional revenue of Rs. 279 Cr for FY18 (incl. arrears of Rs. 65 Cr).
- Interest reduced by Rs. 74 Cr for the year on account of reduction in rates and periodic repayments.
- Registered 35% increase in Profit for the year to Rs. 193 Cr from Rs. 143 Cr
Indonesia Coal Mine (PT GEMS)
- Achieved sales volume of 17.1mn tonsCY17, an increase of 56% compared to previous year
- Higher sales volume & improved realizations led to a 92% increase in revenues to Rs. 5,017 Cr
- Profit increased by 234% for the year to Rs. 793 Cr from Rs. 237 Cr
Consolidated Financial Highlights for FY2018 [INR Cr]