Gammon Infra Shares Slump After Q1 Results

Shares of Gammon Infrastructure Projects plunged nearly 5 per cent today as the company reported a flat standalone net profit at Rs 5.88 crore for the first quarter ended June 30.

The scrip declined by 4.31 per cent to Rs 5.10 on BSE. On NSE, it went down by 4.71 per cent to Rs 5.05.

The company had posted a standalone net profit of Rs 5.98 crore in the year-ago period, Gammon Infrastructure Projects had said in a BSE filing yesterday.

However, total income from operations during April-June period increased to Rs 80.85 crore from Rs 67.27 crore in the corresponding quarter of previous fiscal.

Total expenses of the company also increased to Rs 70.65 crore compared with Rs 53.23 crore in the year-ago period. Gammon Infrastructure Projects Ltd is an infrastructure project development company incorporated by Gammon India Ltd, to participate in the development of infrastructure projects on a public private partnership basis.

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