GMR Infra Q3 PAT plunges 85% to Rs 9 cr

GMR Infrastrucutre, a Bangalore based infrastrucutre major reported a decline of 85 per cent in its net profit at Rs 9.2 crore for the quarter ended December 31, 2009 as compared to Rs 61.3 crore in the same quarter previous year.

During the quarter, the company acquired 70 per cent stake in SJK power Generation, a 1,320 Mw coal based power licensee in Madhya Pradesh.

Total income increased 268 per cent to Rs 31.8 crore from Rs 8.7 crore.

GMR's net revenues from the energy sector dropped 20 per cent to Rs 441.9 crore whereas rods saw a 152 per cent uptick in  revenues to Rs 91.3 crore. Net revenues from EPC and other sector shot up by highest margin- 192 per cent to Rs 146 crore. The airport sector contributed for 20 per cent rise in revenues to Rs 387.5 crore from rs 322 crore a year back.

GM Rao, Chairman, GMR group said, " International and domestic airport sector has seen healthy growth in passenger traffic. At DIAL, the construction of terminal 3 is progressing as per schedule and anumber of contracts have been signed in areas of ground handling, cargo, duty free, F&B. We ahve acquired 70 per cent stake in SJK Power generation, a licensee for 1320 MW coal based power plant in MP."