G R Infraprojects shares rise on stellar Q3 earnings

Shares of G R Infraprojects rose nearly 4% in early trade today after the construction & engineering company logged a 122.5% YoY growth in consolidated profit for the quarter ended December 2022. Profit rose to Rs 323.6 crore in Q3 against Rs 145.48 crore in the corresponding quarter of last fiscal.  

G R Infraprojects shares rose up to 3.65 per cent to Rs 1248.6 against the previous close of Rs 1204.60 on BSE. G R Infraprojects shares stand higher than the 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages. The stock opened with a gain of 2.52% at Rs 1234.95 today.  

The large cap stock has lost 24.95 per cent in a year and gained 8 per cent in 2022. 

Total 3734 shares of the firm changed hands amounting to a turnover of Rs 46.39 lakh on BSE. The market cap of the firm rose to Rs 11,891.30 crore on BSE. 

 The stock hit a 52-week high of Rs 1936 on February 15, 2022 and a 52-week low of Rs 1074.35 on July 4, 2022. 

The Q3 earnings were boosted by strong operating performance. EBITDA climbed 62.5% to Rs 594.82 crore in the last quarter against Rs 366.04 crore in the corresponding quarter of the previous fiscal.  

Revenue for the quarter rose 12% YoY to Rs 2,192 crore in Q3 against Rs 1,955.30 crore in the December quarter of the previous fiscal. 

Earnings per share (EPS) in the last quarter rose to Rs 18.01 against Rs 13.34 in the corresponding quarter of the previous fiscal. EPS in the September 2022 quarter stood at Rs 17.  

Expenses rose to Rs 1708.02  crore in the third quarter against Rs 1675.67 crore in the December quarter of the last fiscal.  In the September quarter, expenses stood at Rs 1602.77 crore.  

During the quarter, the company has sold its entire shareholding in one of its subsidiary i.e. GR Highways Investment Manager Private Limited for total consideration amounting to Rs 15crore i.e. at basic value, pursuant to Share Transfer Agreement dated December 12, 2022, it said.
 

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