IRB Infra Q2 PAT rises 4% YoY to Rs 100 cr

IRB Infrastructure Developers consolidated net profit increased 4.30% to Rs 99.86 crore in Q2 FY25 as against Rs 95.74 crore posted in Q2 FY24.

However, revenue from operations declined 9.12% to Rs 1,585.8 crore in the second quarter of FY25 as against Rs 1,745 crore reported in Q2 FY24.

Profit before tax gained 3.99% year on year to Rs 267.11 crore in the quarter ended 30 September 2024.

EBITDA in Q2 FY25 was at Rs 933 crore, registering a marginal growth of 0.97% from Rs 924 crore posted in Q2 FY24.

The companys toll collection for Q2 FY25 rises 25% (including projects under Private InvIT).

On half year basis, the companys net profit jumped 4.50% to Rs 239.85 crore on 1.76% rise in revenue from operations to Rs 3,438.8 crore in H1 FY25 over H1 FY24.

Meanwhile, the company has declared second third interim dividend of Re 0.10 per equity share for financial year 2024-25. The record date for the purpose of payment of dividend is Friday, 8 November 2024.

Virendra D. Mhaiskar, chairman & MD, IRB Infrastructure Developers, said, The Q2FY25 looks fine, specifically on the toll collection front, which has shown consistent robust year on year growth, despite impact of heavy monsoon resulting into the traffic disruptions in some of the Assets. We expect improved performance in the remaining quarters in view of the exit of monsoon season, coupled with set-in festive season and the pace consolidation in the development of under construction projects post monsoon season.

IRB Infrastructure Developers (IRB) is one of the leading infrastructure development companies in India in road and highway sector, with presence in Build-Operate-Transfer (BOT) and HAM space. The company undertakes development of various infrastructure projects in the road sector through several Special Purpose Vehicles. IRB's work spans from building of roads, highways, bridges, and tunnels, recently the company diversified its business into real estate development sector also.

Shares of IRB Infrastructure Developers slipped 2.65% to currently trade at Rs 52.59 crore on the BSE.

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