GMR’s Q2 FY10 net revenue up 41%
GMR Infrastructure Ltd (GIL) has registered a net revenue of Rs1,194.29 crore in Q2 FY10, which is 41% more than the figure of Rs846.81 crore registered in the previous year’s corresponding period. The company’s EBIDTA is up 54%; Rs380.06 crore for this FY’s Q2 against Rs247.14 crore in the previous year’s Q2.
GIL’s cash profit for this FY’s Q2 is Rs190.30 crore against Rs178.92 crore registered in the previous year’s corresponding period taking it up by 6%. Commenting on the performance of the quarter, Mr GM Rao, the Group Chairman said: “We are continuing our focus on building business and institution. Over all, the performance has been to our expectations."
During the 2nd quarter FY10, GMR acquired 100% ownership interest for 600 MW Thermal Power Plant from Emco Energy Ltd. It has completed evaluation of BTG tender for the Plant for which the contract is to be signed shortly. For its VPGL expansion, the company has issued LOI to M/s L&T for EPC contract for 768 MW.
"Our barge relocation plans from Mangalore to Kakinada is in place and the Plant will be in operation by March 2010 at Kakinada. Project development plans for Kamalanga Thermal power project, Chattisgarh Thermal power project and Hydro projects are going forward in line with our plans. We will be inaugurating Sabiha Gokcen International Airport at Istanbul, Turkey on 31st Oct’09 in a record time of 18 months, 12 months ahead of schedule, again demonstrating our execution capabilities. The Passenger and Air traffic movements at our Delhi, Hyderabad and Istanbul Airports are increasing steadily," said Mr Rao.