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Sequentially, the company's gross toll collection increased 14.25% as against Rs 365 crore recorded in July 2023.
The company's wholly owned subsidiaries, which manage Mumbai Pune project and Ahmedabad Vadodara project, reported aggregate toll revenue of Rs 198 crore against Rs 165 crore in August 2022; thus, growth of 20%. Similarly, the joint ventures entities under IRB Infrastructure Trust, Private InvIT toll revenue jumped 28% to Rs 219 crore in August 2023, as against Rs 171 crore in August 2022
Amitabh Murarka, deputy chief executive officer of IRB Infrastructure Developers said, “We have added prestigious Hyderabad ORR project in Telangana and commenced the toll collection with effect from 12 August 2023.” He further added, “We expect the toll revenue to pick up pace, in view of forthcoming festival season along with likely commencement of toll collection on newly bagged Samakhiyali Santalpur BOT project in the State of Gujarat.”
The company's consolidated net profit tumbled 63.2% to Rs 133.77 crore on 15.1% decline in revenue from operations to Rs 1,634.22 crore in Q1 FY24 over Q1 FY23.
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.
The scrip hit an all time high at Rs 35 in intraday today.
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