IRB Infrastructure whistles past demonetisation blues

Healthy toll revenues and promising order book are key takeaways from results

Following slightly lacklustre September quarter results and overestimating the impact of the recent note ban on IRB Infrastructure, analysts had muted expectations over its December quarter (Q3) results. But, to the surprise of many, IRB Infra managed to meet the Street expectations, while net profit growth for the quarter was better than anticipated. This is why despite its revenues posting the slowest quarterly growth in recent times, the Street decided to reward IRB Infra’s stock with gains of nearly five per cent on Wednesday. Overall, upbeat market sentiments also played a part in lifting the stock. 

Consolidated revenues at Rs 1,441