scorecardresearchEarnings Impact: G R Infraprojects soars almost 10% on strong Q4 results

Earnings Impact: G R Infraprojects soars almost 10% on strong Q4 results

Updated: 19 May 2023, 11:24 AM IST
TL;DR.

The company's net profit for the quarter under review jumped 41 percent to 389.68 crore as against 276.5 crore in the year-ago period.

The stock, which was listed in July 2021, is now around 30 percent higher from its IPO price of  <span class='webrupee'>₹</span>837.

The stock, which was listed in July 2021, is now around 30 percent higher from its IPO price of 837.

Shares of G R Infraprojects surged nearly 10 percent in intra-day deals on Friday after the company posted strong results for the quarter ended March 2023 (Q4FY23).

The company's net profit for the quarter under review jumped 41 percent to 389.68 crore as against 276.5 crore in the year-ago period. Meanwhile, its total income was up just 3 percent to 2,492 crore versus 2,414 crore in the corresponding quarter last fiscal.

For the overall financial year FY23, the company's net profit surged almost 75 percent to 1,454 crore as compared to 832 crore in FY22. Total income, meanwhile, advanced 12 percent to 9,569 crore in FY23 as against 8,525 crore in FY22.

The stock rose as much as 9.7 percent in intra-day deals to its day's high of 1,185, taking its total return in May (so far) to over 16 percent. However, before May, the stock was in the red for 3 straight months since February. It fell 2.3 percent in April, 3 percent in March and over 16 percent in Feb. Meanwhile, it advanced 8.5 percent in January 2023.

Overall, the stock has shed over 5 percent in 2023 YTD and is down 24 percent in the last 1 year.

The stock had hit its 52-week high of 1,465 on May 24, 2022, and a 52-week low of 930 on March 28, 2023.

Currently, the stock is 26 percent away from its 52-week high and is up 16 percent from its 52-week low.

The stock, which was listed in July 2021, is now around 30 percent higher from its IPO price of 837.

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G R Infraprojects stock price trend

Earlier this month, the company emerged as an L‐1 bidder for a project on the construction of a 4‐lane highway with paved shoulders from Km 74.700 to Km 112.950 of NH‐731A (i/c Yamuna Bridge). The project is located in Kausambhi, Uttar Pradesh. It will be constructed on hybrid annuity mode (HAM).

The project invited by the Ministry of Road Transport and Highways has a bid project cost of 737.17 crores and the period of completion of the same is 730 days from the appointment date.

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First Published: 19 May 2023, 11:24 AM IST