IRB Infra surges 6% on robust Q4 earnings

Shares of IRB Infrastructure were up 6% in late trades on the Bombay Stock Exchange after the company announced robust fourth quarter earnings.

For the fourth quarter ended March 31, 2013, Consolidated income from operations grew 11.5% to Rs 948.3 crore from Rs 850.9 crore while consolidated net profit increased 25.8% to Rs 151 crore from Rs 120 crore in the same quarter last year.

For the financial year 2013, Toll revenue increased 10% year-on-year while construction revenue rose 21% year-on-year.

Further, the board at its meeting held today has proposed a fourth interim dividend of Re 1/- per equity share of face value Rs 10/- each.

IRB was up 6% at Rs 124 on the Bombay Stock Exchange with over 3.8 million shares traded on both the stock exchanges.