GMR Infra back in black in Q4

Buoyed by a Rs 1,231-crore gain on selling majority stake in a subsidiary, GMR Infrastructure today bounced back in the black with a consolidated net profit of Rs 519 crore for the January-March quarter. The company had reported a loss of Rs 355 crore a year ago.

Buoyed by a Rs 1,231-crore gain on selling majority stake in a subsidiary, GMR Infrastructure on Friday bounced back in the black with a consolidated net profit of Rs 519 crore for the January-March quarter. The company had reported a loss of Rs 355 crore a year ago.

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“During the quarter, the Group has divested its 70% stake in GMR Energy Singapore Pte Ltd to FPM Power Holding and has realised a profit of Rs 1,231 crore arising from such sale of shares,” it said.