GMR Energy bags 2 projects in Rajasthan
04 Oct 2010
GMR Infrastructure announced today that its wholly-owned unit GMR Energy has won two bids for a Rajasthan-based transmission project from the state's power utility.
GMR will be commissioning the project in two years and will have a concession period of 25 years for the same, it said in a statement. It did not give financial details of the project.
GMR stock had underperformed the market over the past one month till 1 October, failing to rise at all even as the Sensex rose 12.30 per cent during the period. It underperformed the market in past one quarter, declining 4.03 per cent as against 16.77 per cent rise in the Sensex.
Recently the company disclosed rise of 32.40 per cent in consolidated net profit on a year-on-year basis to Rs31.79 crore, while total income climbed 9.17 per cent year-on-year to Rs1,299 crore for the quarter ended June 2010.
The company has an equity capital of Rs 3.89 billion. Its market capitalisation is Rs22,265 crore as on 1 October 2010.
