IRB Infra board to mull stock split on 4 Jan

The construction company announced that its board will consider a stock split on 4 January 2023.

"The Board of Directors of the Company is scheduled to be held on January 04, 2023, to consider, inter-alia, a proposal for alteration in the share capital of the Company by sub-division/split of existing equity shares having face value of Rs. 10/- each, fully paid up," IRB Infrastructure Developers said in a statement on Monday (19 December 2022).

IRB Infrastructure Developers is India's first multinational infrastructure player in highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs 60,000 crore in 10 states across the parent company and two InvITs.

On a consolidated basis, net profit of IRB Infrastructure Developers rose 101.63% to Rs 85.31 crore on 8.35% decline in net sales to Rs 1342.95 crore in Q2 September 2022 over Q2 September 2021.

Shares of IRB Infra rose 2.12% to Rs 312.80 on Monday (19 December 2022).

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