GMR Power & Urban Infrastructure Faces 5% Share Dip Despite 77% Rise in Q3 Net Profit

8 Feb 2024 , 02:51 PM

GMR Power and Urban Infrastructure witnessed a nearly 5% decline in shares at the open on February 8 following its December quarter results.

The company reported a 77% increase in net profit for the December quarter, amounting to ₹308 Crore compared to the year-ago period. Currently, the stock is trading at ₹54.35 on the National Stock Exchange, reflecting a 7.17% decrease from the previous close.

GMR Power's revenue experienced a YoY decline of 38.2% to ₹168.7 Crore. Over the past year, GMR Power and Urban Infrastructure has demonstrated significant growth, with its shares gaining over two times.

As a subsidiary of GMR Enterprises Private Limited, GMR Power operates in the energy, urban infrastructure, and transportation sectors.

The energy segment of GMR Power boasts an installed capacity exceeding 3,000 MW, featuring a diversified fuel mix including coal, gas, LSHS, as well as renewable sources such as wind and solar energy.

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