GMR Infrastructure stages turnaround; posts net profit in Q3FY07

New Delhi, Jan 24 (UNI) GMR Infrastructure Ltd today posted a net profit of Rs 0.55 crore for the third quarter ended December 31, 2006 as against a net loss of Rs 8.04 crore for the corresponding period last fiscal.

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

The GMR Group posted a net profit after minority interest of Rs 53.26 crore for the third quarter, up by 48.85 per cent as compared to Rs 35.78 crore for the third quarter of fiscal 2006.

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

''The consolidated results for the current period are not fully comparable with those of the corresponding period of the previous year, as GMR acquired 99.99 per cent equity share capital of GVL Investments Pvt 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.

UNI