IRB Infra logs 30% y-o-y growth in May toll collections

7 Jun 2024 , 03:28 PM

On Thursday (June 6), IRB Infrastructure Developers Ltd and its associate IRB Infrastructure Trust revealed a 30% year-on-year toll revenue growth in May 2024.

IRB Infrastructure Developers reported that toll collections for the month totaled ₹536 Crore, a considerable increase from ₹411 Crore in May 2023.

According to Amitabh Murarka, Deputy CEO of IRB Infrastructure Developers, “With the annual toll tariff change now effective from June 3, 2024, and the strong GDP numbers, we anticipate the upward trajectory in toll collections to continue in the upcoming quarters.”

In the fourth quarter of 2024, IRB Infrastructure Developers’ net profit increased by 45.1% to ₹188.9 Crore compared to the previous year. In the same quarter, IRB Infrastructure Developers reported a net profit of ₹130.2 Crore.

The company said that its revenue from operations climbed by 27.2% y-o-y to ₹2,061.2 Crore, up from ₹1,620 Crore in the previous fiscal year. In the fourth quarter of the current fiscal year, EBITDA climbed by 17.3% to ₹889.9 Crore, up from ₹758.7 Crore in the same period last year.

IRB Infra Developers’ counter closed with a gain of 10.95% higher at Rs 77.90, against the previous close of Rs 70.20 on NSE. The counter touched a new 52-week high of Rs 78.15 in today’s session.

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