Bangalore: Aided by the sale of stake in its Singapore subsidiary, GMR Infrastructure Limited, the Bangalore-based infrastructure major, today reported a net profit of Rs 579 crore for the fourth quarter ended March 31, against a net loss of Rs 366 crore in the corresponding quarter last year.
The divestment of 70 per cent stake in GMR Energy Singapore Pte Limited to FPM Power Holding Limited for a consideration of Rs 1,231 crore helped the company return to profits during the quarter.
GMR's net sales went up 22.5 per cent to Rs 2,571 crore, against Rs 2,099 crore in the corresponding quarter last year. The operating profit for the period increased 10.6 times to Rs 489 crore, against Rs 46 crore in the year-ago period.
01/06/13 Business Standard
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The divestment of 70 per cent stake in GMR Energy Singapore Pte Limited to FPM Power Holding Limited for a consideration of Rs 1,231 crore helped the company return to profits during the quarter.
GMR's net sales went up 22.5 per cent to Rs 2,571 crore, against Rs 2,099 crore in the corresponding quarter last year. The operating profit for the period increased 10.6 times to Rs 489 crore, against Rs 46 crore in the year-ago period.
01/06/13 Business Standard
