GMR Infrastructure Ltd’s two main businesses of energy and airports are still not out of the woods. The company’s shares have fallen by 13% since its March quarter results were declared five days ago.
Investors were unimpressed by the auditor’s qualification of a ₹2,255 crore impairment loss on a stranded power project. Even GMR Infra’s defence that the project has been referred for Special Debt Restructuring, and the onus is now on the bankers, did not help.
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