GMR Infrastructure, promoted by the Bangalore-based GMR group, has posted a net profit of Rs 53.24 crore for the quarter ended March 31, as against Rs 50 crore in the corresponding quarter the previous fiscal, an increase of 6.43 per cent, the company announced Friday.
"Despite the recessionary trends in the economy and the outcome of the global meltdown, the GMR group has been able to demonstrate peak revenue growth, spotless project execution, improved operational efficiency and timely funding for all its projects and acquisitions," GMR chairman GM Rao said.
In a regulatory statement, the company said its stand-alone net profit for the last quarter of 2008-09 stood at Rs 9.32 crore, as compared to the Rs 3.74 crore posted in the same quarter the previous year - a decline of 75.05 per cent.
It posted a net profit of Rs 97.67 crore in 2008-09 as compared to Rs 62.69 crore the year before. Total income similarly increased from Rs 112.2 crore in 2007-08 to Rs 165 crore for the year under review.