GMR Infrastructure Q3 profit plunges 85% to Rs 9.2 cr
Mumbai: GMR Infrastructure today posted nearly 85 percent decline in consolidated net profit at Rs 9.2 crore for the third quarter ended December 2009.
The company had a consolidated net profit (after tax and minority interest & share of profit) of Rs 61.29 crore in the October-December quarter last financial year, GMR Infra said in a filing to the Bombay Stock Exchange (BSE).
However, the company`s consolidated net sales rose to Rs 1,066.72 crore during the third quarter of current fiscal from Rs 958.90 crore of the corresponding period a year earlier.
"In this quarter we have put in place catalysts that drives across sectors in time to come," GMR Infrastructure Group Chairman GM Rao said.
GMR Infra is a Bangalore-based infrastructure major with interests in airports, energy and highways.
On a standalone basis, GMR Infrastructure posted a net profit of Rs 1.84 crore during the three-month ended December against Rs 22.27 crore of the year-ago quarter.
Shares of GMR Infra fell 3.44 per cent and were quoting at Rs 59 in the morning trade on the BSE.
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