GMR Infrastructure has reportedly restructured its energy business, which posted a net loss of 160 crore during Oct-Dec 2012 against a net loss of 84.3 crore a year ago, largely owing to fuel constraints.
Until some time ago, there were no separate units for this segment, but now the company created several verticals so that complete responsibilities are on the head of the vertical, who will be responsible to drive profit and loss.
The chief of each and every vertical would formulate strategies and report directly to the chairman of the energy business. Analysts said the new structure of empowered and accountable verticals would position the company take quick decisions and seize opportunities when the climate improves.
New divisions of the business include liquid fuel and gas, corporate services, solar and renewable, confirmed GMR. Others divisions, say company sources, include fuel sourcing, thermal and hydro, among others.
The group derives over 30 percent of its revenue from the energy business but the segment faced a challenging market, uncertain policy environment, and acute fuel scarcity.
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