IRB Infrastructure Developers Q4 profit grows 16pc to Rs 240 cr

IRB Infrastructure Developers Ltd today reported a 16 per cent rise in consolidated net profit at Rs 240 crore for the quarter ended on March 31, 2018.

The company had reported a net profit of Rs 207 crore during the same quarter last year.

Total income of the company during the said quarter fell by 14 per cent to Rs 1,432 crore from Rs 1,656 crore in the January-March period of 2016-17, IRB Infrastructure Developers Ltd said in a statement.

The company reported a 29 per cent rise in net profit at Rs 920 crore for 2017-18 fiscal compared to Rs 715 crore in the preceding financial year.

Its total income grew 2 per cent to Rs 5,863 crore in 2017-18 from Rs 5,969 crore in 2016-17 fiscal.

IRB Infrastructure Developers Ltd Chairman & Managing Director Virendra D Mhaiskar said, Not only Q4, but the whole of FY18 was stupendous for us...as it witnessed return of traffic growth, post demonetisation and GST, across projects resulting into robust revenue build-up. We successfully listed IRB InvIT and transferred seven projects to it."