Infrastructure company GR Infraprojects Limited on Thursday (April 3) said it has secured an arbitration award of ₹1,064.5 crore against the Chief Engineer, NH (S) Wing & Road Construction Department, Government of Bihar.

The dispute pertained to claims raised by the company regarding the construction of a two-lane road with a paved shoulder on the Bhagalpur Bypass section of National Highway 80 under an EPC contract.

The Arbitral Tribunal ruled in favor of G R Infraprojects, directing the Bihar government to pay ₹1,064.5 crore along with a 12% per annum interest from the award date until the amount is realised.

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The company reported a 7.8% year-on-year (YoY) increase in net profit at ₹261.7 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, GR Infraprojects posted a net profit of ₹242.7 crore, the company said in a regulatory filing.

The company’s revenue from operations fell 20.6% to ₹1,694.5 crore as against ₹2,134 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA tanked 27.1% to ₹369.8 crore in the third quarter of this fiscal over ₹507.6 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 21.8% in the reporting quarter as compared to 23.8% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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Shares of G R Infraprojects Ltd ended at ₹1,081.70, up by ₹14.85, or 1.39%, on the BSE.