GMR Power and Urban Infra Q2 FY27 Results: Consolidated Net Profit ₹154 Crore on Total Income of ₹1,591 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Consolidated net profit fell 82.8% YoY, more than total income, which fell 17.2%. The gap is wider at the profit line: profit before tax fell 79.7%, and the tax line moved from a credit of ₹29.67 crore a year earlier to an expense of ₹22.05 crore.

Other income fell 43.4% to ₹61.26 crore, which is 3.9% of total income and 34.8% of profit before tax of ₹176.04 crore. Finance costs of ₹301.25 crore are 18.9% of total income, down from ₹446.03 crore a year earlier.

Note 7 lists their components as reversal of payable to a capital creditor, bad debt provision movements, additional provision for expected liabilities and profit or loss on sale of investments and investment property.

Note 2(b) says GMR Warora Energy received ₹301.00 crore from DNH and DD Power in full and final discharge of claims, of which ₹260.02 crore had been accounted for and provisioned earlier and ₹40.98 crore is recognised as late payment surcharge income. The company's statement does not link this receipt to the quarter's exceptional items.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone revenue from operations fell 48.3% YoY to ₹41.99 crore, while other income rose 126.9% to ₹8.35 crore, so other income is 16.6% of total income. Standalone finance costs of ₹52.01 crore are 103.3% of total income this quarter.

Standalone net loss widened to ₹32.12 crore from ₹3.41 crore a year earlier, though it narrowed from ₹96.04 crore in the June quarter. Depreciation rose to ₹2.56 crore from ₹0.28 crore. No tax expense is shown in either period.

Standalone exceptional items were ₹9.10 crore for the quarter. Note 5 describes them as reversal or creation of provisions for impairment of investments, loans and advances and other receivables.

Inference

The filing states that the standalone investment in GMR Energy Limited together with GMR Consulting Services Limited is ₹2,672.00 crore at 30 Sep 2026, carried at fair value. The auditors draw attention to this carrying value, which depends on fair values of GMR Kamalanga Energy and GMR Warora Energy, and state that their conclusion is not modified.

Paid-up equity share capital rose to ₹390.51 crore from ₹357.42 crore a year earlier. The filing states no dividend or record date.

The filing does not state the reason for the fall in revenue, total income and finance costs, nor the reason for the tax expense on consolidated profit before tax. It also does not give the outcome of the Supreme Court appeal on transmission charges, or when the DFCC unbilled claims will be realised.

Reference: Original filing (PDF)