GMR Infra returns to profit in Q4 on sale of subsidiary

Moneycontrol Bureau

GMR Infrastructure has turned profitable in the March quarter on one-time gain of Rs 1231 crore from sale of subsidiary. The firm has reported Rs 579 crore profit in Q4 versus Rs 366 crore loss year-on-year.

Sales climbed over 22 percent year-on-year to Rs 2571.07 crore on improved performance from airport division. The firm's aviation vertical which runs Delhi and Hyderabad airports reported Rs 552 crore profit against Rs 7 crore loss after the firm raised tariff at Delhi airport. The vertical's revenues also climbed 50 percent to Rs 1731 crore.

The company's road division saw its profit decline to Rs 69 crore from Rs 107.25 crore YoY.

Power division continued with dismal performance on fuel shortage concerns. The segment's  loss rose over two-fold to Rs 144 crore.

Shares of the company climbed around 5 percent to Rs 21.45 post earnings announcement.

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