GMR Infrastructure Q4 PAT up 129%

GMR Infrastructure has posted 129% growth in net profit after tax and minority interest at Rs 50.0 crore for the quarter ended March 31, 2008 as compared to Rs 21.9 crore for the quarter ended March 31, 2007. Net Revenues have increased 43% from Rs 619.6 crore for the quarter ended March 31, 2007 to Rs 885.3 crore for the quarter ended March 31, 2008.

For the year ended March 31, 2008, the company has posted a jump of 20% in net profit after tax and minority interest at Rs 210.1 crore for the year ended March 31, 2008 as compared to Rs 174.4 crore for the year ended March 31, 2007. Net Revenues have increased from Rs 1,696.7 crore for the year ended March 31, 2007 to Rs 2,294.8 crore for the year ended March 31, 2008.

GMR Infrastructure plans to invest Rs 2,400 crore this fiscal in various road projects. The company expects to commission four important road projects - two in Andhra Pradesh, one in Tamil Nadu and one in Ambala, by the end of the year.

Further GMR Infrastructure’s unit GMR Energy Ltd has acquired a 5% stake in South Africa’s Homeland Mining and Energy SA (Pty) Ltd, a unit of Canada’s Homeland Energy Group Ltd. It also has an option to buy additional 45% stake in the company.