India's GMR Power rises 5% on profit jump

GMR Power and Urban Infra

11/11/2022 09:38

** Shares of GMR Power and Urban Infra Ltd  GMRP.NS  rise as
much as 4.9% to 24.75 rupees, their biggest intraday pct gain
since Oct. 7
    ** Co, engaged in energy, urban infrastructure and
transportation sectors, reported a 4X increase in Sept. qtr
profit to 10.83 billion Indian rupees ($133.97 million) on
Friday compared to 2.49 billion rupees a year earlier
    ** Income from operations grew 50.4% to 15.81 billion rupees
    ** More than 645,000 shares change hands by 0928 GMT vs
30-day avg of 539,079 shares
    ** Stock down 50.8% from its opening price on NSE debut in
March, as of last close
($1 = 80.8400 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))