GMR Power and Urban Infrastructure down 5%

Revenue from operations fell 38.2 percent YoY to Rs 168.7 crore in the December quarter

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GMR Power and Urban Infrastructure shares fell nearly 5 percent at the open on February 8, a day after it reported its December quarter results.

The company’s December quarter net profit was up 77 percent at Rs 308 crore from the year-ago period.

At 10.40 am, the stock was trading at Rs 55.70 on the National Stock Exchange.

GMR Power’s revenue fell 38.2 percent YoY to Rs 168.7 crore.

Also read: Know your stock | Can smart metering order change the complexion of GMR Power, and create value for shareholders?

Over the last year, GMR Power and Urban Infrastructure has gained over two times. A subsidiary of GMR Enterprises Private Limited, GMR Power deals with energy, urban infrastructure and transportation sectors.

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GMR’s energy segment has an installed capacity of over 3,000 MW and has a balanced fuel mix of coal, gas, LSHS as well as renewable sources of wind and solar energy.

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