IRB Infrastructure's net profit in March quarter up y-o-y by 45.1%

8 May 2024 , 10:56 AM

IRB Infrastructure shares saw an increase in early trade on May 8 following the company reporting a 45% rise in net profit for the quarter ended March.

The company reported a consolidated net profit of ₹188.9 Crore for the quarter, showing a 45.1% year-on-year increase despite lower operating margins and higher JV losses, driven by strong revenue and other income. Revenue from operations for the quarter grew by 27.2% year-on-year to ₹2,061.2 Crore.

At the time of writing, IRB Infrastructure shares were trading at ₹67.90 on the NSE, up by 2.80% from the previous session’s close. IRB Infrastructure shares have gained around 140% over the past year, outperforming the Nifty 50 index, and has gained 62.25% since the beginning of the year.

IRB Infrastructure recorded a 20% increase in toll revenue from the Mumbai–Pune Expressway in FY24 and negotiated an 18% toll hike in April 2023. NHAI’s tender pipeline remains robust at ₹2 lakh Crore, and IRB Infrastructure aims to win orders worth ₹20,000-25,000 Crore in FY25.

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