GMR Infra Q2 net dips 40%; to raise Rs 1,000 cr
Mumbai: GMR infrastructure on Tuesday reported a
40 per cent decline in its consolidated net profit at Rs 53.61
crore for the second quarter ended September 30, 2009.
The firm had a net profit of Rs 90 crore during the
September quarter of the previous fiscal, GMR Infra said in a
filing to the Bombay Stock Exchange.
The company's total income rose to Rs 1,209.76 crore
during the July-September period of the current fiscal from
Rs 856.59 crore in the same period last year.
The board of the company has approved raising of Rs 1,000
crore through issue of preference shares, subject to
shareholders' approval, the filing added.
On a standalone basis, GMR Infrastructure posted a 53.74
per cent drop in net profit at Rs 11.19 crore for the
September quarter. Total income rose to Rs 43.36 crore during
the period, from Rs 40.72 crore in the year-ago period.
"We are continuing our focus on building business. During
the second quarter, we have acquired 100 per cent ownership
interest for 600 MW Thermal Power plant from Emco Energu...
Overall the performance has been to our expectations," GMR
Group Chairman GM Rao said.
Shares of GMR Infra were trading at Rs 67.80, down 1.95
per cent over previous close on the BSE.