Hyderabad: GMR Infrastructure reported nearly two-fold increase in its profit after tax (after minority interest) at Rs 1,170 crore for the quarter ended March 31, 2014 as against Rs 579 crore during the same quarter a year ago. The rise in profit was a result of its 40 per cent stake sale in the Turkish Airport to Malaysian Airports Holdings BDH, which fetched the company Rs 1,659 crore.
Gross revenue for the fourth quarter increased by 12 per cent to Rs 2,961 crore from Rs 2,638 crore.
PAT for the financial year ended March 2014 dipped to Rs 10 crore as against Rs 88 crore a year ago. Gross revenue increased to Rs 10,653 crore from Rs 9,975 crore during the same period.
“We are now on a stable path with the right mix of assets, reduced debt levels and optimum cost utilisation. With our assets becoming operational and stabilising, we expect the performance to improve in the coming year. We are optimistic that there will be resurgence in the infrastructure sector and we are well poised to participate in this phase,” said GM Rao, Chairman, GMR Group.
Meanwhile, the company, which operates 8 power units, said gross revenue from power business stood at Rs 3,343 crore in FY14 as against Rs 2,430 crore during 2012-13. GMR is in the process of developing seven more power projects.
31/05/14 New India Express
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Gross revenue for the fourth quarter increased by 12 per cent to Rs 2,961 crore from Rs 2,638 crore.
PAT for the financial year ended March 2014 dipped to Rs 10 crore as against Rs 88 crore a year ago. Gross revenue increased to Rs 10,653 crore from Rs 9,975 crore during the same period.
“We are now on a stable path with the right mix of assets, reduced debt levels and optimum cost utilisation. With our assets becoming operational and stabilising, we expect the performance to improve in the coming year. We are optimistic that there will be resurgence in the infrastructure sector and we are well poised to participate in this phase,” said GM Rao, Chairman, GMR Group.
Meanwhile, the company, which operates 8 power units, said gross revenue from power business stood at Rs 3,343 crore in FY14 as against Rs 2,430 crore during 2012-13. GMR is in the process of developing seven more power projects.
31/05/14 New India Express
