Mumbai, June 5 (IANS): GMR Infrastructure, promoted by the Bangalore-based GMR group, has posted consolidated a net profit of Rs.53.24 crore for the quarter ended March 31, as against Rs.50 crore in the corresponding quarter the previous fiscal, an increase of 6.43 percent, the company announced Friday.

“Despite the recessionary trends in the economy and the effects of the global meltdown, the GMR group has been able to demonstrate peak revenue growth, spotless project execution, improved operational efficiency and timely funding for all its projects and acquisitions,” GMR chairman G.M. Rao said.    

In a regulatory statement, the company said its stand-alone net profit for the last quarter of 2008-09 stood at Rs.9.32 crore, as compared to the Rs.3.74 crore posted in the same quarter the previous year - a decline of 75.05 percent.   

It posted a net profit of Rs.97.67 crore in 2008-09 as compared to Rs.62.69 crore the year before. Total income similarly increased from Rs.112.2 crore in 2007-08 to Rs.165 crore for the year under review.