IRB Infra hits lower circuit after Q2 PAT at Rs42cr

The sales rose 30.44% to Rs1465.24cr in the quarter ended September 2021 as against Rs1123.32cr during the previous quarter ended September 2020.

Oct 27, 2021 02:10 IST India Infoline News Service

IRB Infrastructure Developers
Shares of IRB Infrastructure Developers hit a 10% lower circuit at Rs265 on the BSE. The net profit of the company reported to Rs42.31cr in the quarter ended September 2021 as against net loss of Rs19.66cr during the previous quarter ended September 2020.

The sales rose 30.44% to Rs1465.24cr in the quarter ended September 2021 as against Rs1123.32cr during the previous quarter ended September 2020.

The stock is currently trading at Rs265 down by Rs29.4 or 9.99% from its previous closing of Rs294.40 on the BSE.

Further, the company to raise equity funds to the tune of a whopping Rs5,347cr through preferential allotments to Cintra INR Investments BV (“Cintra”), a 100% subsidiary of Cintra Global S.E. and Bricklayers Investment Pte. Ltd, an affiliate of GIC (“GIC”), Singapore’s sovereign wealth fund.

Under the fundraising plan, Cintra would invest equity capital of up to Rs3,180cr into India’s largest toll road developer – IRB; Cintra will have a maximum stake of 24.9% stake in IRB post their investment.

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity