New Delhi, May 21: GMR Infrastructure Ltd today posted a profit after tax of Rs 41.28 crore in the quarter ended March 31 against Rs 39.51 crore in the corresponding quarter of the previous year, a 4.48 per cent rise.
Consolidated net profit for the reporting quarter stood at Rs 50.02 crore compared with Rs 21.85 crore a year ago.
GMR Infrastructures net profit for the year ended March 31 rose 20.44 per cent to Rs 210.08 crore from Rs 174.43 crore in the previous year. Total income stood at Rs 2,364.53 crore for the year against Rs 1,715.07 crore a year ago.
Total income for the quarter ended March 31 was Rs 905.19 crore compared with Rs 619.47 crore a year ago.
The company said its profit growth had moderated because of an adjustment for exceptional losses and expenditure.
The GMR Hyderabad International Airport, which started operations on March 23, has suffered a loss of Rs 57.81 crore, largely on one-time inception costs, GMR chief financial officer A. Subbarao said.
The company incurred a loss of Rs 12.41 crore from the operations of Vemagiri Power Generation Ltd.
Ignoring these largely non-recurring losses and expenditures, the profit after tax for last quarter would have been Rs 62.43 crore, Subbarao said.
The company plans to invest Rs 2,400 crore this fiscal in various road projects.
The company expects to commission four important road projects — two in Andhra Pradesh, one in Tamil Nadu and one in Ambala — by the end of the year, Subbarao said.
In the energy sector, GMR is is in talks on two power projects in Uttarakhand and Orissa and has signed an MoU for another in Chhattisgarh.
For acquiring coal, the company has entered into an MoU with Homeland Energy Corporation, Toronto, following which it acquired a 10 per cent equity interest in Homeland Mining and Energy.