G R Infra slides as Q2 PAT declines 11% YoY to Rs 193 cr

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G R Infraprojects declined 3.44% to Rs 1,575 after the company's consolidated net profit shed 11% to Rs 193.28 crore on 25.94% fall in revenue from operations to Rs 1,394.33 crore in Q2 FY25 over Q2 FY24.

On segmental revenue basis, revenue from build, operate and transfer (BOT)/ annuity projects decrease by 30.72% YoY to Rs 981.50 crore while revenue from engineering, procurement and construction declined 6.31% YoY to Rs 326.09 crore in second quarter of FY25.

Profit before exceptional items and tax slumped 14.75% YoY to Rs 244.73 crore in September 2024 quarter. The company reported an exceptional loss of Rs 15.27 crore during the quarter.

Total expense declined 24.99% to Rs 1,216.69 crore in Q2 FY25 over Q2 FY24. Cost of material stood at Rs 48.71 crore (down 46.34% YoY), construction expense was at Rs 799.06 crore (down 29.2% YoY), finance cost was at Rs 112.33 crore (down 22.34% YoY) while employee benefit expense stood at Rs 145.48 crore (down 10.5% YoY).

EBITDA declined 24.41% to Rs 353.03 crore in Q2 FY25 as compared with Rs 467.06 crore in corresponding quarter last year. EBITDA margin stood at 25.32% in Q2 FY25 as against Rs 24.81% in Q2 FY24.

The company's operating margin for Q2 FY25 was 25.32%, compared to 24.81% in Q2 FY24.

Meanwhile, the companys board acquired 100% of the equity share capital of Bijapur REZ Transmission, a wholly owned subsidiary formed by PFC Consulting.

The company stated that the acquisition of Bijapur REZ Transmission is necessary to undertake the transmission project for the establishment of a 400/220 kV pooling station and associated infrastructure near Bijapur, Karnataka, as part of its successful bid for the project.

GR Infraprojects is engaged in construction of infrastructure facilities on engineering, procurement and construction (EPC) and built, operate and transfer (BOT) basis.

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