IRB Infrastructure Developers Sees Profit Surge Amid Rising Income

IRB Infrastructure Developers Ltd reported a 5% increase in consolidated profit after tax to Rs 140 crore for the June quarter, attributable to higher income. The company's total income rose by 13% to Rs 1,972 crore, and toll collection increased significantly. An interim dividend was also declared.

IRB Infrastructure Developers Ltd reported a nearly 5% rise in consolidated profit after tax to Rs 140 crore for the June quarter, driven by higher income.

According to the company's exchange filing, it posted a profit of Rs 134 crore during the same quarter of the previous financial year. Total income surged to Rs 1,972 crore from Rs 1,745 crore, marking a 13% increase.

Chairman and Managing Director Virendra D. Mhaiskar highlighted the robust toll collection momentum, especially from newly added assets, setting a promising tone for FY25. The company's toll collection reached Rs 1,556 crore in Q1FY25, up from Rs 1,183 crore in the year-ago period.

The board declared an interim dividend of Re 0.10 per equity share for FY25 with a record date set for August 20, 2024. As India's largest integrated toll roads and highways infrastructure developer, IRB boasts an asset base exceeding Rs 80,000 crore across 12 states.

(With inputs from agencies.)