Gammon Infrastructure posts net profit of Rs 12 crore in Q1

NEW DELHI: Gammon Infrastructure today reported Rs 11.64 crore consolidated net profit for the first quarter ended June 30.

The company had posted a net profit of Rs 2.77 crore in the year-ago period.

Total income of the company went up to Rs 155.53 crore during the April-June quarter of the current fiscal against Rs 92.50 crore in the corresponding quarter last fiscal, the Mumbai-based company said in a statement.

Meanwhile, Gammon said National Highways Authority of India (NHAI) has approved its equity participation in Maa Durga Expressways, a Special Purpose Vehicle (SPV) promoted by Kolkata-based Simplex Infrastructures, to implement Mahulia to Kharagpur four-laning project to the extent of 49 per cent.

"NHAI has (also) approved the equity participation of Simplex Infrastructures in Vijaywada Gundugunalu road porject, a SPV promoted by the company (Gammon) to implement the Vijaywada-Gundugunalu six-laning project, to the extent of 49 per cent," Gammon said.