GR Infraprojects share price down 2% as Q2 profit falls 35%

The share touched a 52-week high of Rs 1,381.60 and a 52-week low of Rs 930.00 on 07 August, 2023 and 28 March, 2023, respectively.

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GR Infraprojects share price fell 2 percent in early trade on November 10 after the company posted a 35-percent fall in its September quarter net profit at Rs 217.16 crore against Rs 336.23 crore, YoY.

Its revenue from operation fell 12 percent at Rs 1,882.78 crore versus Rs 2,136.36 crore.

The company has emerged as an L‐1 bidder in a financial bid for the tender invited by RITES on behalf of Shri Mata Vaishno Devi Shrine Board, Katra (J&K), GR Infraprojects said in its statement.

The project is for the design, engineering, construction, development, finance, and operation & maintenance of passenger ropeway between Tarakote and Sanjichhat at Katra (J&K), on a BOOT basis, it added.

The project cost is Rs 200 crore and concession period is 33 years (including 3 years for construction period.

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The share touched a 52-week high of Rs 1,381.60 and a 52-week low of Rs 930.00 on 07 August, 2023 and 28 March, 2023, respectively.

Currently, the stock is trading 18.77 percent below its 52-week high and 20.68 percent above its 52-week low.