Gammon Infrastructure posts net profit of Rs 12 cr in Q1

Gammon Infrastructure reported Rs 11.64 crore consolidated net profit for the first quarter ended June 30.

The company had posted a net profit of Rs 2.77 crore in the year-ago period.
Total income of the company went up to Rs 155.53 crore during the April-June quarter of the current fiscal against Rs 92.50 crore in the corresponding quarter last fiscal, the Mumbai-based company said in a statement.
Meanwhile, Gammon said National Highways Authority of India (NHAI) has approved its equity participation in Maa Durga Expressways, a Special Purpose Vehicle (SPV) promoted by Kolkata-based Simplex Infrastructures, to implement Mahulia to Kharagpur four-laning project to the extent of 49 per cent.
"NHAI has (also) approved the equity participation of Simplex Infrastructures in Vijaywada Gundugunalu road porject, a SPV promoted by the company (Gammon) to implement the Vijaywada-Gundugunalu six-laning project, to the extent of 49 per cent," Gammon said.