IRB Infrastructure's Q4 net profit surges by 45% to Rs 189 crore

IRB Infrastructure Developers reported a 45% rise in net profit to Rs 188.87 crore for the March 2024 quarter, driven by higher income of Rs 2,504.49 crore. Despite increased expenses, the company's consolidated net profit for the year increased to Rs 605.81 crore on revenue of Rs 8,201.76 crore. The company declared a dividend of Rs 181 crore for FY24. IRB Infrastructure is India's largest integrated private toll roads and highways infrastructure developer with an asset base of over Rs 80,000 crore.

IRB Infrastructure Developers on Tuesday reported a 45 per cent rise in consolidated net profit to Rs 188.87 crore for the March 2024 quarter, mainly due to higher income.

Its net profit was Rs 130.15 crore in the quarter ended March 2023, the company said in a regulatory filing.

Total income surged to Rs 2,504.49 crore from Rs 1,698.91 crore in the year-ago period.

Total expenses also rose to Rs 2,060.15 crore as against Rs 1,456.65 crore a year ago.

The consolidated net profit rose to Rs 605.81 crore in fiscal 2023-24 compared to Rs 720.01 crore in FY23.

The income for the entire year was Rs 8,201.76 crore over Rs 6,703.31 crore a year ago.

In a separate statement, the company said it has paid Rs 181 crore as dividend for FY24, including a third interim dividend of 10 paise declared on Tuesday.

''FY24 was an astounding year. We not only received three prestigious TOT (Toll Operate Transfer) awards but also tied up finances, made an upfront payment of concession fees to the respective authorities and commenced tolling on these projects well within the set timelines,'' Virendra D Mhaiskar, Chairman & Managing Director of IRB Infrastructure Developers, said.

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)