GMR Infrastructure plunges on reporting Rs 63 crore loss for Q2

11 Nov 2011

GMR Infrastructure is currently trading at Rs. 25.10, down by 0.60 points or 2.33% from its previous closing of Rs. 25.70 on the BSE.

The scrip opened at Rs. 25.20 and has touched a high and low of Rs. 25.90 and Rs. 25.00 respectively. So far 291268 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 54.80 on 10-Nov-2010 and a 52 week low of Rs. 24.00 on 26-Oct-2011.

Last one week high and low of the scrip stood at Rs. 26.90 and Rs. 25.00 respectively. The current market cap of the company is Rs. 10003.56 crore.

The promoters holding in the company stood at 71.42% while Institutions and Non-Institutions held 20.29% and 8.30% respectively.

GMR Infrastructure has reported results for the second quarter ended September 30, 2011.

The company’s net profit for the quarter has jumped over six and a half fold at Rs 58.36 crore as compared to Rs 8.97 crore for quarter ended September 30, 2010. The company’s total income has zoomed 163.32% to Rs 337.94 crore for the Q2FY12 from Rs 128.34 crore for the corresponding quarter of the previous year.

On consolidated basis, the Group has reported a net loss after tax and minority interest and share of profit from associates of Rs 62.53 crore as compared to a net profit of Rs 71.12 crore for the corresponding quarter of the previous year as profit mainly hit by higher interest outgo. Group’s total income for quarter under review has increased by 50.74% at Rs 1882.20 crore as compared to Rs 1249.10 crore for the Q2FY11.

The company, having interests in airports, power, roads and EPC, among others, had clocked Rs 71.12 crore net profit in the year ago period. Its interest outgo during the quarter stood at Rs 392.21 crore compared to Rs 262.31 crore in the corresponding quarter last fiscal.

The company’s revenue from the airports business during the quarter jacked up to Rs 836 crore from Rs 488 crore a year earlier. Power, roads and EPB businesses contributed Rs 534 crore, Rs 100 crore and Rs 290 crore respectively.

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