GPT Infraprojects (GPT), the flagship company of the GPT Group on August 3 reported its financial result for the first quarter (Q1) of Fiscal 2021-22 (FY22). During the Q1FY22, the consolidated total income stood at Rs 1,223 million as compared with Rs 838 million in Q1FY21, higher by 46%YoY.

Revenue from operations stood at Rs 1,215 million, a growth of 50% y-o-y with improved profitability. Order backlog stands healthy at Rs 18.6 billion, 2% higher than previous quarter.

The operations which were impacted in Q1FY21 on account of the COVID-19 pandemic, improved in the subsequent quarters and attained normalcy; the second wave which hit the country once again in Q1FY22 did not have a major impact on operations, thereby maintaining the execution run-rate and profitability.

The company’s consolidated EBITDA came in at Rs 198 million in Q1FY22 as against Rs 178 million in Q1FY21, registering a rise of 11.24%YoY.

The Net profit (post minority) for the period stood at Rs 45 million in Q1FY22 as against Rs 17 million in the corresponding quarter of the last fiscal, registering a jump of 164.71%YoY.

GPT Chairman, Dwarika Prasad Tantia, said, "The calendar year 2021 started on a buoyant note with revival in the ordering activity in the infrastructure sector backed by the Government’s focus on capex and a huge outlay of Rs 1.1 trillion for the railways in Union Budget 2021-22. However, with the second wave of Covid-19 hitting the country, the focus of the Government shifted back to healthcare. As a result, ordering activity was muted in the quarter. However, with the current orderbook standing strong at Rs. 18.6 billion, we are confident of bettering our performance in this fiscal."

The Infrastructure segment recorded revenue of Rs 1,016 million for Q1FY22 compared with Rs 624 million in Q1FY21 and Rs 1,826 million in Q4FY21. The EBIT came in at Rs 158 million (up 46% YoY) in Q1FY22, accounting for a healthy margin of 15%. The segment accounted for 83% of the net revenue from operations in Q1FY22.

The Sleeper segment recorded Revenue of Rs 199 million for Q1FY22 compared with Rs 185 million in Q1FY21 and Rs 294 million in Q4FY21. The EBIT came in at Rs 11 million in Q1FY22. The segment accounted for 17% of the Net Revenue from operations in Q1FY22.

Shares of the company declined Rs 0.55, or 0.57%, to settle  at  Rs 96.05.  The total volume of shares traded  was 8,633 at  the BSE (Tuesday).