GMR Infra reported a loss of Rs.2341 crore in the fourth quarter due to the impairment that it took on some of its power assets. Total income for the fourth quarter was marginally higher at 2294 crore. GMR actually booked an impairment loss of Rs.1243 crore on its investment in GMR Energy and its subsidiaries and it has also taken an additional Rs.970 crore loss on GMR Chhattisgarh Energy. Energy continues to be the big drag on GMR. If you solely look at the airports business of GMR, it had revenues of Rs.1357 crore with net profit of 271 crore reporting a net profit margin of over 20%. At Rs.15, there may not be too much of a downside risk but you should buy this stock only once you have clarity on the trajectory of the power sector. That is what is keeping the company under stress.