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GMR Infra Q4 net profit rises 6% despite recession

GMR Infra Q4 net profit rises 6% despite recession
PTI
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First Published: Fri, Jun 05 2009. 11 52 AM IST
Updated: Fri, Jun 05 2009. 11 52 AM IST
Mumbai: GMR Infrastructure, the flagship company of GMR Group, on Friday posted 6.43% rise in its consolidated profit for the fourth quarter of fiscal ended 31 March 2009 at Rs53.24 crore.
The company had a net profit of Rs50.02 crore for the quarter ended 31 March 2008, GMR Infrastructure said in a filing to the Bombay Stock Exchange.
“Despite the recessionary trends in the economy and the effects of the global meltdown, the GMR Group has been able to demonstrate peak revenue growth, spotless project execution, improved operational efficiency and timely funding for all its projects and acquisitions,” GMR Group chairman GM Rao said.
The total income of the firm rose to Rs1,327.07 crore in Q4 of FY09, from Rs905.19 crore in the same period a year ago.
For fiscal 2009 it reported a net profit of Rs279.45 crore, 33% up from Rs210.08 crore of fiscal 2008.
Its total income increased from Rs2,364.53 crore for FY08 to Rs40,40.37 crore for FY09.
Shares of GMR Infrastructure were trading at Rs179.75, up 1.27% on the BSE.
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First Published: Fri, Jun 05 2009. 11 52 AM IST