GMR Infra stages turnaround; posts net profit

New Delhi, Jan 24: GMR Infrastructure Ltd today posted a netprofit of Rs 0.55 crore for the third quarter ended December 31, 2006as against a net loss of Rs 8.04 crore for the corresponding periodlast fiscal.

The company's total income increased 499 per cent at Rs 6.47 crorefor the quarter as compared to Rs 1.08 crore for the quarter endedDecember 31, 2005.

The GMR Group posted a net profit after minority interest of Rs53.26 crore for the third quarter, up by 48.85 per cent as compared toRs 35.78 crore for the third quarter of fiscal 2006.

The total income is Rs 367.56 crore for the quarter, registering agrowth of 65.65 per cent against Rs 221.89 crore for the same quarter ayear ago.

''The consolidated results for the current period are not fullycomparable with those of the corresponding period of the previous year,as GMR acquired 99.99 per cent equity share capital of GVL InvestmentsPvt Ltd (GVL),'' the company said in a statement.

GVL, Delhi International Airport Pvt Ltd and Gateways for India Airports Pvt Ltd have become subsidiaries of the company.

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