GMR Infra Q2 net profit rises by 32 pc at Rs 71 cr | business | Hindustan Times
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GMR Infra Q2 net profit rises by 32 pc at Rs 71 cr

business Updated: Nov 10, 2010 17:09 IST
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Infrastructure major, GMR Infrastructure on Wednesday reported a growth of over 32 per cent in its net profit at Rs 71.12 crore during the July-September quarter. The net profit of the company was Rs 53.61 crore during the same period last year.

Its net sales was Rs 1,221.71 crore for the quarter ended September 30, as compared to Rs 1,194.29 crore reported during the same period in 2009-10, a company statement said. GMR Infra earned Rs 483 crore in the quarter from its airport operations, registering a growth of over 42 per cent, as against Rs 339.8 crore reported during the same quarter of last year.

For the April-September period, the company posted a net profit of Rs 99.56 crore, growth of over 30 per cent, as against the profit of Rs 76.14 crore reported during the same period last year.

"Traffic at all our three operating airports was higher than originally envisaged and the forecast for the rest of the year is also optimistic.

We are confident that we will close the year on a high note," GMR Group Chairman G M Rao said. He added that inauguration and commencement of operations from T3 terminal at Delhi International Airport was one of the major achievements for the company during the second quarter of the year.

GMR Infra currently operates two airports - at Delhi and Hyderabad - in India and one airport in Istanbul in Turkey.

Recently, it has won the bid to develop and operate Male international airport through global competitive bidding process. The company also achieved financial closure of 768 MW Vermagiri expansion project during the quarter, the statement added.