IRB Infrastructure Developers Ltd's Q3FY19 consolidated net profit rises 5.6% yoy to Rs218.9cr: Beats Estimates

The company’s consolidated revenue stood at Rs1,788.51cr, up 38% yoy.

Feb 05, 2019 10:02 IST India Infoline Research Team

IRB Infrastructure Developers Ltd Q3FY19

Consolidated Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 1,788.51 38.0
EBITDA 760.40 20.6
EBITDA Margin (%) 42.5 [611]
Net Profit 218.90 5.6
***EBITDA margin change is bps

IRB Infrastructure Developers Ltd's Q3FY19 results beat estimates on revenue and EBITDA fronts. Revenue grew by 38% yoy to Rs1,788.51cr against Rs1,296.19cr in Q3FY18, beating the estimate of Rs1,561cr. EBITDA for the quarter grew by 20.6% yoy to Rs760.4cr against Rs630.3cr yoy, beating the estimate of Rs746cr. EBITDA margin declined by 611bps yoy to 42.5%. Net profit for the quarter grew by 5.6% yoy to Rs218.9cr against Rs207.3cr last year.

• The company achieved financial closure for the 3rd HAM Project, i.e., Vadodara – Kim stretch of Vadodara – Mumbai Expressway project by arranging finances of Rs981cr.
• Total order book stands at ~Rs12,150cr at the end of Q3FY19.

Technical View:

IRB Infrastructure Developers Ltd is currently trading at Rs. 131.35, down by 8 points or 5.74% from its previous closing of Rs. 139.35 on the BSE.
The scrip opened at Rs. 135.35 and has touched a high and low of Rs. 139.25 and Rs. 128.20 respectively. So far 46,86,410 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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