IRB Infrastructure Q2 Net grows 14 pc to Rs 121.73 crore

IRB Infrastructure Developers today reported a 14 per cent increase in consolidated net profit at Rs 121.73 crore for the quarter ended September 30.
Its net profit stood at Rs 106.81 crore in the same quarter a year-ago.
The company's total income during the quarter, however, declined six per cent at Rs 911.96 crore from 967.42 crore, a company release said.
"The marginal decline in turnover is on the back of the revenue mix we have--toll and construction income. While the toll income has improved, the income from the construction segment has reduced. But as more projects start getting operational, our construction income will also increase," IRB Infrastructure Chairman and Managing Director Virendra Mhaiskar said.

The board of directors of the company has approved an enabling special resolution for issue of securities for an amount not exceeding Rs 1,500 crore subject to shareholders' approval.
IRB's order book currently stands at around Rs 11,600 crore out of which Rs 9,650 crore worth orders are to be executed in the next three to four years, it said.
Shares of IRB closed 1.51 per cent down at Rs 254.70 apiece on the BSE.