The Hindu Business Line : GMR Infrastructure Q4 net at Rs 21.85 cr

Mumbai, July 1 GMR Infrastructure Ltd recorded a net profit of Rs 21.85 crore in the quarter ended March 31, 2007 as against Rs 41.16 crore in the corresponding quarter last year. However, the figures are not comparable as the company went public only in August 2006.

Income from operations was Rs 700.72 crore as against Rs 354.54 crore in the year- ago period.

Net profit for the year ended March 31, 2007, increased to Rs 174.43 crore (Rs 152.30 crore). Total income for the year grew at 61 per cent to Rs 1,715 crore (Rs 1,065 crore). GMR, with its diverse portfolio, has business operating in power, road and airport development (Delhi and Hyderabad).

According to Mr Madhu Terdal, CFO-Corporate Strategic Finance of GMR Infrastructure Ltd, currently, power contributes maximum to the overall income of the company with 62 per cent share, followed by airports with around 30 per cent and road projects with 7 per cent.

Looking forward

“By 2010-2011 our projections are that airports would take on power to contribute 52 per cent, 36 per cent will come from power and the share of roads will double up to 14 per cent,” said Mr Terdal.

Informing newspersons about “big ticket items for the overall revenues of the company”, he said the Delhi International Airport has already added Rs 588 crore to its top line and Rs 37 crore to the bottomline in FY 2007 (46 per cent aero and 55 per cent non-aero activities).

The company seems positive on more growth from the project with various other components like revenues from duty-free shops, its planned hospitality district for the Delhi airport and other non-aero activities contributing to it. Hyderabad Airport’s contribution will be reflected from 2009 as the airport will begin commercial operations from March 2008, said Mr Terdal.

“Forty five developers including real estate and international funds have already shown interest in the 45-acre hospitality district to be part of the 250 acres marked as commercial estate in the Delhi airport,” Mr Terdal said.