IRB Infra gains as toll collection jumps 39% YoY in Nov

IRB Infrastructure Developers rose 2.60% to Rs 284.30 after the company's gross toll collection jumped 39.25% to Rs 365.95 crore in November 2022 compared with Rs 262.81 crore reported in November 2021.

Sequentially, the company's gross toll collection rose 6.04% as against Rs 345.09 crore recorded in October 2022.

The gross toll collection of IRB Infra's wholly-owned subsidiaries in November 2022 was Rs 179.16 crore (up 12.73% YoY).

The joint ventures entities under IRB Infrastructure Trust reported gross toll collection of Rs 186.79 crore (up 79.81% YoY) for the period under review.

Virendra D. Mhaiskar, chairman & managing director of IRB Infrastructure Developers said, "The increase in toll collection reflects continued robustness in traffic growth across all projects, in all vehicle categories, which is in line with the macro-economic indicators. This also demonstrates that all our projects are the part of important economic corridors of the Nation." He further added, "With inflationary concerns gradually easing, traffic has remained strong and grown on month to month basis."

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, 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.

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