Shares of GR Infraprojects experienced a nearly 3 percent decline in early trading on the NSE on February 13, following the infrastructure company’s announcement of a 25 percent year-on-year decrease in Q3 profit due to weak operating performance and revenue. At 9:50 am, the stock was trading at Rs 1,195.90.
In a regulatory filing dated February 12, GR Infraprojects disclosed a consolidated net profit of Rs 242.9 crore for the quarter ended December FY2024, while revenue from operations decreased by 2.6 percent to Rs 2,134 crore. EBITDA for the reporting period witnessed a significant drop of 65.9 percent to Rs 407.7 crore from Rs 1,194.8 crore, with the EBITDA margin standing at 19.1 percent compared to 54.5 percent in the previous fiscal year.
In January 2024, GR Infraprojects, an engineering and construction company, announced that it had been awarded the contract and received the Letter of Intent from REC Power Development and Consultancy Limited for the establishment of a ‘Transmission system for Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh‐Phase II’.
According to the filing, the project entails annual transmission charges of Rs 41.97 crore and is expected to be completed within 24 months, with an operational period of 35 years.
