Q4 FY2024: Infrastructure major GG Engineering announces quarterly results

Mumbai-headquarter GG Engineering has announced its fourth quarter and has reported its Q4 PAT at Rs 547.03 lakh. According to the exchange filing, this is marginally higher than the Rs 537.02 lakh posted by the company in the same quarter a year ago. 

The company's net profit stood at Rs 710.47 lakh in this period

For the year ended March 31, 2024, the total income of GG Engineering came in at Rs 215.3 crore, the statement showed. In FY23, the company reported a total income of Rs 11,082.83 lakh or Rs 110 crore.

Earlier, Infrastructure major GG Engineering announced that its board of directors approved the allotment of equity shares on the conversion of 13,50,00,000 warrants into an equal number of equity shares. 

The conversion, priced at Rs 1.32 each, was applicable to both promoters and the public category.

These warrants were issued to promoters and promoter group and non-promoters/public category, on a preferential basis, at an issue price of Rs 1.32 per warrant on payment of Rs 0.33 per warrant - which is 25 per cent of the issue price.