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IRB Infrastructure Developers shares gained 6.2 per cent on Saturday, logging an intraday high at Rs 60.90 per share which was 3.4 per cent away from its upper circuit of Rs 63.06 per share on BSE. The buying interest on the counter sparked after the company posted a multifold increase in its net profit after tax for the third quarter (Q3).
Around 10:12 AM, IRB Infra share price was up 3 per cent at Rs 59.05 per share on BSE. In comparison, the BSE Sensex was up 0.25 per cent at 77,697.63. The market capitalisation of the company stood at Rs 35,660.3 crore. The 52-week high of the stock was at Rs 78.05 per share and the 52-week low was at Rs 45.05 per share.
On Friday, after market hours, IRB Infra posted a consolidated net profit of Rs 6,026 crore, including exceptional gains of Rs 5,804 crore, arising from fair-value assessments of its investments in InvITs and related assets. The company’s profit for Q3 FY24 was Rs 187.42 crore.
The company’s total revenue from operations stood at Rs 2,025.44 crore, up 2.9 per cent year-on-year (Y-o-Y), as compared to Rs 1,968.53 crore.
The company’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter increased by 7 per cent Y-o-Y to Rs 1,049 crore. It also declared the third interim dividend of 10 per cent for FY25.
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“As we build on this momentum, we have embarked on a strategic journey of asset rotation and unlocking the true value of our investments. This initiative includes a non-binding offer to Public InvIT and a value-enhancing initiative across our portfolio," said Virendra Mhaiskar, chairperson and managing director of IRB Infrastructure Developers.
IRB Group’s aggregate toll collection in Q3 FY25, including IRB Infra and its private infrastructure investment trust (InvIT) associate, grew by about 21 per cent Y-o-Y, to Rs 1,655 crore.
IRB Infra dividend
The company's board approved the third interim dividend of Re. 0.10 per equity share of the face value of Re. 1 each for the financial year 2024-25
In the past one year, IRB Infra shares have lost 12 per cent against Sensex's rise of 8 per cent.
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