Despite recession, GMR Infrastructure has managed to register a growth of 6.42 per cent in its consolidated net profit, which rose to Rs 53.24 crore in the fourth quarter ended March 31, 2009, over the same period last year.

The company had posted a net profit of Rs 50.02 crore for the quarter ended March 31, 2008.

In addition, the company has also witnessed a surged of 46.5% in its total income, which grew to Rs 1,327.07 crore in the quarter ended March 2009, from Rs 905.19 crore in the same period last year.

For the full year, the company reported a net profit of Rs 279.45 crore, against Rs 210.08 crore for the year ended March 31, 2008.

Further, its total income has also surged from Rs 2,364.53 crore for the year ended March 31, 2008, to Rs 4,040.37 crore in the 2009 fiscal.

Arihant Capital Market, a financial intermediary company, is looking bullish on GMR Infrastructure.

In a latest published report, the company has advised traders to buy the stock for a target price of Rs 210, with stoploss of Rs 165.

The stock is presently trading at Rs 176, marginally down against its previous close. The counter has made 52-week-high and low of Rs 180 and Rs 46.