GR Infraprojects Faces 3% Share Dip Post 25% Q3 Profit Slump; Secures Transmission Project in Madhya Pradesh

13 Feb 2024 , 11:08 AM

GR Infraprojects witnessed a nearly 3% decline in its shares on the NSE on February 13, following a reported 25% year-on-year decrease in Q3 profit due to weak operating numbers and topline.

The company’s consolidated net profit for the quarter ended December FY2024 was ₹242.9 Crore, while revenue from operations saw a 2.6% decline to ₹2,134 Crore.

EBITDA for the reporting period fell by 65.9% to  ₹407.7 Crore from ₹1,194.8 Crore, with an EBITDA margin of 19.1% compared to 54.5% in the last fiscal year.

In January 2024, GR Infraprojects secured a successful bid 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’.

The company, with over 25 years of legacy, is a rapidly growing entity in the Indian infrastructure sector, employing 16,500+ individuals.

GR Infraprojects’ business operations include EPC and Project Management services for various infrastructure projects, development, operations, and maintenance of roads and highways, manufacturing activities, and fabrication of metal crash barriers and OHE Mast.

The organization is known for its ability to deliver projects before or on time, maintaining high standards of quality, safety, financial discipline, and governance.

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