IL&FS Transportation sells 49% stake in Gurgaon's Rapid Metro

IL&FS Transportation Networks Ltd today said it has sold 49 per cent equity stake in Rapid MetroRail Gurgaon Ltd for Rs 509.9 crore.
However, the name of the buyer was not disclosed.
"The company along with its subsidiary has sold 49 per cent equity stake in Rapid MetroRail Gurgaon Ltd, a subsidiary of the company at a price of Rs 17 per share for an aggregate consideration of Rs 509.90 crore," IL&FS Transportation Networks Ltd said in a BSE filing.
IL&FS Transportation Networks today reported a 23.25 per cent jump in consolidated net profit at Rs 159.07 crore for the quarter ended December 31, 2015 on the back of increase in income.

The company had posted a net profit after taxes, minority interest and share of profit/loss of associates at Rs 129.06 crore during the corresponding quarter last fiscal, it said in a regulatory filing.
Total income from operations saw an increase of 12.11 per cent to Rs 2,190.59 crore for the October-December quarter as against Rs 1,953.88 crore in the year-ago period.

IL&FS Transportation was formed in 2000 as a wholly-owned subsidiary of Infrastructure Leasing and Financial Services Limited (IL&FS), a player in infrastructure development and financing.
Transportation infrastructure development was initially taken up in IL&FS and thereafter the transportation vertical IL&FS Transportation was formed.

IL&FS Transportation is the largest BOT (build, operate, transfer) road asset owner in India with approximately 13,100 km lanes in its portfolio.
It also has presence in metro rail, city bus services and border check-posts, besides an international footprint covering Spain, Portugal and Latin America with the acquisition of Elsamex SA, a Spain-based highway operations, maintenance and allied services provider.