Infrastructure India PLC on Wednesday said its half-year loss trebled and it has negative net assets but insisted its outlook is ‘generally positive’.

Infrastructure India is an Isle of Man-based investor in infrastructure assets in India’s energy and transport sectors.

Pretax loss for the six months that ended September 30 was £62.2 million, tripling from £21.2 million a year before. Infrastructure India also on Wednesday reported that it pretax loss for the financial year that ended March 31 had widened to £48.4 million from £30.8 million a year ago.

Gross investment value at September 30 was £194.1 million, up 15% from £168.7 million at March 31, but down 26% from £263.1 million a year ago.

Infrastructure India said net assets were negative £85.7 million at September 30, widening from negative £46.8 million on March 31, and swinging from net assets of positive £72.1 million a year ago.

‘The consensus outlook for India is, however, generally positive so long as the global uncertainties and inflation don’t weigh too heavily on domestic demand,’ the company said.

Infrastructure India did not declare a dividend, unchanged from a year ago.

Infrastructure India shares were down 14% trading at 0.39 pence per share at midday on Wednesday in London. The stock is down 47% over the past 12 months.

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