GMR Infra has little to show other than fall in debt

ET Intelligence Group: The dramatic reduction of debt reported by GMR InfrastructureBSE -2.06 % is not a reflection of a sudden improvement in the company's repayment capability.

Banks, with unpaid outstanding loans, have taken over the firms' energy assets, resulting in the liability moving out of GMR's books. Its debt reduced to Rs 19,586 crore in FY17 from Rs 37,480 crore in FY16. In fact, the reduction in debt was also from a lower base, thanks to the adoption of a new accountin ..


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