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Shares of GR Infrastructure opened within the crimson and had been buying and selling 5% decrease on 10 November after the corporate reported a 35% YoY decline in internet revenue in its quarterly earnings.
The corporate reported a 35% year-on-year (YoY) lower in its internet revenue to Rs 217.16 crore for the quarter from Rs 336.23 crore reported within the year-ago quarter.
The income from operations noticed a 12% YoY decline to Rs 1,882.78 crore for the quarter from Rs 2,136.36 crore reported in the identical quarter of the earlier fiscal 12 months.
Earlier, the corporate introduced that it has emerged as an L-1 bidder in a monetary bid for the tender invited by RITES on behalf of Shri Mata Vaishno Devi Shrine Board, Katra.
The tender is for the design, development, engineering, finance, improvement, and operations and upkeep of a passenger ropeway between Tarakote and Sanjichhat at Katra on a BOOT (construct, personal, function, switch) foundation.
The full value of the undertaking is estimated to be Rs 200 crore, and the concession interval is 33 years, which incorporates 3 years of development interval.
The shares of the corporate touched a 52-week excessive of Rs 1,381.60 on 07 August 2023 and a 52-week low of Rs 930.00 on 28 March 2023.
At 11:45 am, the shares of GR Infraprojects had been buying and selling 3.24% decrease at Rs 1,114.80 on NSE.
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