IRB Infra toll collection jumps 32% YoY

IRB Infrastructure Developers said that its toll collection jumped 32% to Rs 388 crore in December 2022 compared with Rs 294.15 crore reported in December 2021.

Sequentially, the company's gross toll collection rose 6.01% as against Rs 366 crore recorded in November 2022.

The gross toll collection of IRB Infra's wholly-owned subsidiaries in December 2022 was Rs 192 crore (up 12.94% YoY).

The joint ventures entities under IRB Infrastructure Trust reported gross toll collection of Rs 196 crore (up 59% YoY) for the period under review.

Virendra D. Mhaiskar, chairman & managing director of IRB Infrastructure Developers said, "The consistent increase in the toll collection on all our projects reflects not only that the economy is on growth trajectory, but also these corridors are playing vital role in this growth."

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 1,342.95 crore in Q2 FY23 over Q2 FY22.

The scrip rose 0.43% to Rs 305.65 on the BSE.

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