GR Infraprojects trades 3% lower on 25% decline in Q3 net profit
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In January 2024, GR Infraprojects, which is an engineering and construction company reported that it had emerged as successful bidder and has received Letter of Intent from REC Power Development and Consultancy Limited for establishment of “Transmission system for Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh‐Phase II”.
Shares of GR Infraprojects fell nearly 3 percent in early trades on the NSE on February 13, a day after the infrastructure company reported a 25 percent on-year slump in Q3 profit on weak operating numbers and topline. At 9:50am, the stock was trading at Rs 1,195.90.
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In a regulatory filing on February 12, GR Infraprojects reported a consolidated net profit of Rs 242.9 crore for quarter ended December FY2024, while revenue from operations fell 2.6 percent to Rs 2,134 crore. Its EBITDA for the reporting period fell 65.9 percent to Rs 407.7 crore from Rs 1,194.8 crore and EBITDA margin stood at 19.1 percent as against 54.5 percent last fiscal.
Also read: Interim Budget’s push for infrastructure: Newly added smallcap stocks by infrastructure mutual funds
In January 2024, GR Infraprojects, which is an engineering and construction company, reported that it had emerged as a successful bidder and has received the Letter of Intent from REC Power Development and Consultancy Limited for establishment of ‘Transmission system for Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh‐Phase II’.
According to the filing, the annual transmission charges if Rs 41.97 crore and to be completed in 24 months with operation period of 35 years.
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