IRB Infrastructures Developers Q1 net profit grows to Rs 140 cr

New Delhi, Aug 9 (PTI) IRB Infrastructures Developers Ltd on Friday posted around 5 per cent rise in consolidated profit after tax to Rs 140 crore during June quarter on account of higher income.

It had reported a profit after tax (PAT) of Rs 134 crore in the April-June quarter of preceding 2023-24 financial year, the company said in an exchange filing.

The company’s total income rose to Rs 1,972 crore in the reporting quarter from Rs 1,745 crore in the year-ago period, registering an increase of 13 per cent.

In a separate statement, Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Limited, said, “It is a promising start for FY25 with the continued robust momentum in toll collection, especially with the newly added assets to our portfolio.”

The company looks forward for further growth with the government’s continued focus on PPP (public private partnerships) projects and several upcoming opportunities in the sector.

The company’s toll collection for Q1FY25 was at Rs 1,556 crore, up from Rs 1,183 crore in the corresponding quarter of FY24.

The board of the company also declared an interim dividend of Re 0.10 per equity share for financial year 2024-25. The record date for the purpose of payment of dividend is Tuesday, August 20, 2024.

IRB is India’s first integrated infrastructure player in the highways segment.

As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs 80,000 crore in 12 states.