GMR Infrastructure posts net revenue increase of 4.6%; GMR Airports Holdings to raise USD100m
GMR Infrastructure (+2.7%) shares rose on Monday (09-Aug-2010) after posting a net revenue increase of 4.6% for the 3 months ended Jun-2010:
- Net Revenue*: USD269.1 million, +4.6% year-on-year;
- Airports: USD92.9 million,+32.4%;
- EBITDA: USD82.5 million, +17.5%;
- Profit after tax: USD6.2 million, +26.2%.
- Based on the conversion rate at USD1 = INR45.7500
See related CAPA profile: Financial results
Meanwhile, GMR Airports Holdings has announced plans to raise USD100 million to buy out the holdings of its parent, GMR Infrastructure. GMR Airports recently entered into an agreement with Macquarie SBI Investment to raise USD200 million through compulsory convertible preference shares.
Other Asia Pacific airport operators that gained yesterday included Airports of Thailand (+4%), Malaysia Airports (+3.8%), Beijing (+1.7%) and Shanghai (+1.6%). Meanwhile, Infratil (-0.6%) lost ground while Shenzhen Airport shares remained stable.
Selected airports daily share price movements (% change): 09-Aug-2010