ICRA Equity Research has assigned fundamental grade of ‘3+/5’ for GMR Infrastructure indicating strong fundamentals.
The grading rationale from ICRA Equity Research includes the company’s increased revenues which grew 53% to Rs 2082 crore; EBIDTA surged 32% to Rs 498 crore in Q1FY12.
GMR infrastructure’s business activities involve development of various infrastructure projects in power, airport and SEZ segments. The company reported a net profit of Rs 24.49 crore for the quarter ended June 30, 2011 as compared to a net loss of Rs 6.96 crore for the corresponding quarter last year.
