The company said the net profit was not comparable as it includes one-time income from Arbitration award of Rs 370 crore for Panaji Goa project.

Total income rose marginally to Rs 1,698.91 crore in Q4 FY23 from Rs 1,682.73 crore reported in Q4 FY22.

Profit before tax for the quarter was at Rs 205.5 crore, down 15.22% YoY as against Rs 242.4 crore in Q4 FY22.

EBITDA declined 5.95% to Rs 838 crore in the fourth quarter of FY23 as compared with Rs 891 crore recorded in the corresponding quarter previous year.

For the full year, consolidated net profit soared 99.2% to Rs 720.01 crore on 10.3% rise in revenue to Rs 6,401.64 crore in FY23 over FY22.

Toll revenue including Private InvIT SPVs, in FY23 was 40% higher YoY while toll collection through FASTag crossed 95% mark.

Virendra D. Mhaiskar, chairman & managing director, IRB Infrastructure Developers, said, “We experienced vibrant FY23 on all fronts. We bagged new BOT project; started construction of two BOTs and a HAM project; achieved CODs for couple of BOT projects; and witnessed robust growth in toll collection. To add, we transferred a HAM project to the public InvIT; saw investments coming in from our global partner for prestigious Ganga Expressway; we facilitated equity share split to enhance interest of small investors, etc.”

He further added, “FY24 looks to be promising, as we had 19% toll revenue growth in first month itself; got another TOT project, taking our share in TOT space to approximately 37%, the largest by any player in the sector. We expect to continue growth momentum throughout the year.”

Meanwhile, the company's board has approved second interim dividend of Rs 0.075 per share for financial year 2022-23. The record date for the same is fixed on Monday, 29 May 2023.

Further, the board has also approved investment/subscription into IRB Golconda Expressway, incorporated for the implementation of the project of tolling, operation, maintenance & transfer (TOT) of Nehru Outer Ring Road in Hyderabad, Telangana.

IRB Infrastructure Developers (IRB) is India's first Multinational Infrastructure player in Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, with this win, IRB group's asset base will swell to over Rs 70,000 crore spread in 11 States across the parent company and two InvITs.