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Bangalore, Jan. 24 GMR Infrastructure expects the Vemagiri gas power plant to start yielding profit form the last quarter of the current fiscal as the utility is expected to resume production in the next few days after 15 months of shut-down due to lack of gas supply.

The power plant, which incurred a loss of Rs 35.9 crore for the current quarter, will go into full revenue stream from Q4 of fiscal 2008.

The power sector gross revenues for the quarter ended December 2007 was up 62.2 per cent from Rs 231.1 crore to Rs 374.9 crore and for the nine months (April-December) showed increase of 24.3 per cent from Rs 744.4 crore to Rs 924.9 crore.

Announcing the results for the third quarter fiscal 2008, GMR Infrastructure Ltd said the consolidated profit after tax registered a growth of 16.4 per cent from Rs 68.7 crore to Rs 80.0 crore, while the figure for nine months went up by 9.45 per cent from Rs 202.2 crore to Rs 221.4 crore.

The nine months consolidated net revenue registered a growth of 29.42 per cent from Rs 1,077.2 crore to Rs 1,394.1 crore

GMR Infrastructure scrip which closed at Rs 162.9 lost 9.7 per cent on the BSE today.

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