IRB Infrastructure Developers net profit rises to Rs 95.74 crore in Q2

IRB Infrastructure Developers on Friday reported a 12.24 per cent rise in consolidated net profit to Rs 95.74 crore for the September quarter.

The company had clocked a consolidated net profit of Rs 85.30 crore in the year-ago period, it said in a statement.

Total income during the second quarter of the current fiscal rose to Rs 1,874 crore as against Rs 1,438 crore in the year-ago period.

The company said its toll revenue across IRB and Pvt InvIT entities together was up by 20 per cent year-on-year for the first half of the current fiscal at Rs 2,386 crore from Rs 1,984 crore in the previous fiscal.

"Overall, the performance looks very promising, backed by consistent growth seen in toll collections on a year-on-year basis across assets, coupled with commencement of tolling on Hyderabad Outer Ring Road and achieving financial closure of the build-operate-transfer project bagged earlier in Gujarat," Chairman and Managing Director of the company Virendra D Mhaiskar said.

IRB Infra said the board of private InvIT has declared a maiden distribution of Rs 155 crore.

The same will be reflected in the cash flow of IRB in the next quarter, on receipt of distribution, it added.