GMR Infra profit falls 85% in Q3

GMR Infra profit falls 85% in Q3

Mumbai: Infrastructure firm GMR Infrastructure Ltd on Friday posted nearly 85% decline in consolidated net profit at Rs9.2 crore for the third quarter ended 31 December.

The company had a consolidated net profit, after tax and minority interest and share of profit, of Rs61.29 crore in the year-ago quarter, it told the Bombay Stock Exchange.

However, the company’s consolidated net sales rose to Rs1,066.72 crore during the third quarter from Rs958.90 crore for the same period a year earlier.

“In this quarter we have put in place catalysts that (will) drive across sectors in times to come," GMR Infrastructure Group chairman G.M. Rao said. GMR Infrastructure is a Bangalore-based firm with interests in airports, energy and highways.

On a standalone basis, GMR Infrastructure posted a net profit of Rs1.84 crore during the December quarter against Rs22.27 crore in the year-ago quarter.

Shares in the firm ended down 1.72% in a firm Mumbai market.