GMR Infrastructure posts Rs.60 crore profit

GMR Infrastructure Limited posted a cash profit of Rs.60 crore for the first quarter of fiscal 2015-16, a rise of 130 percent in profits over the corresponding quarter of fiscal 2014-15, the company said on Friday.

The company reported a net loss of Rs.199 crore in the April-June quarter last year, GMR Infrastructure said in a statement announcing its quarterly results for the quarter ended June 30.

On a sequential basis, the company rose from losses of Rs.505 crore for the quarter ended March 31, this year, to a profit of Rs.60 crore in the reviewed quarter.

Net revenue rose to Rs.2,351 crore in Q1 2015-16 from Rs.2,233 crore in the same quarter last year, a rise of Rs.118 crore at the rate of five percent.

GMR Infrastructure started operations of its 370 MW gas powered Vemagiri Power Plant (GVPGL) during the quarter under review.

GMR Megawide consortium also took possession of land for the construction of a terminal building of Mactan Cebu International Airport on June 29, 2015, the statement added.

GMR Group has interests in airports, energy, transportation and urban infrastructure.