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By EquityPandit

MARKETS

GR Infraprojects Shares Slumped 6% on Weak Q3 Earnings 

The company reported a 7.8% YoY increase in net profit to Rs 261.7 crore compared to Rs 242.7 crore.

Shares of GR Infraprojects Ltd slumped 6% on Monday, 3 February, after the company announced its quarterly earnings for October-December. 

For the quarter under review, the company reported a 7.8% year-on-year (YoY) increase in net profit to Rs 261.7 crore compared to Rs 242.7 crore reported in the same quarter of the previous fiscal year. 

However, the revenue from operations of the company during the quarter stood at Rs 1,694.5 crore, marking a 20.6% YoY decline compared to Rs 2,134 crore recorded during the corresponding quarter of the last fiscal year. 

Although the company reported some improvement in profitability, its revenue and operational performance fell short of expectations, which likely played a role in the stock’s decline. The drop in share price may also indicate a broader market reaction to the company’s slower growth momentum amid falling revenue.

Earlier this week, the company emerged as the lowest bidder (L1) for a Rs 262.28 crore railway infrastructure project under Western Railway, signalling potential growth.

At 1:45 pm, the shares of GR Infraprojects were trading 6.13% lower at Rs 1,195.65 on NSE. 

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