IRB Infra slips on profit booking

IRB Infrastructure Developers fell 3.24% to Rs 94.05 at 13:50 IST on BSE on profit booking after the stock rose 8% in the preceding four trading sessions to Rs 97.20 on 2 December 2013, from a recent low of Rs 90 on 26 November 2013.

Meanwhile, the BSE Sensex was down 30.23 points, or 0.14%, to 20,867.78.

On BSE, 3.64 lakh shares were traded in the counter compared with average volume of 5.63 lakh shares in the past one quarter.

The stock hit a high of Rs 97.75 and a low of Rs 97.75 so far during the day. The stock hit a 52-week high of Rs 146.95 on 10 December 2012. The stock hit a 52-week low of Rs 51.90 on 2 August 2013.

The stock had outperformed the market over the past one month till 2 December 2013, rising 14.62% compared with the Sensex's 1.41% fall. The scrip had also outperformed the market in past one quarter, rising 50.70% as against Sensex's 10.65% rise.

The mid-cap company has an equity capital of Rs 332.36 crore. Face value per share is Rs 10 .

IRB Infrastructure Developers' consolidated profit after tax declined 12% to Rs 107 crore on 10% growth in total income to Rs 967 crore in Q2 September 2013 over Q2 September 2012. EBITDA (earnings before interest, taxation, depreciation and amortization) rose 9% to Rs 450 crore in Q2 September 2013 over Q2 September 2012.

The company's order book stood at approximately Rs 7030 crore out of which Rs 5050 crore worth of order book is to be executed in the next two to three years. This order book gives IRB good visibility for the next two to three years, the company said in a statement.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

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