IRB Infra clocks 16% y-o-y growth in June Toll Revenue

10 Jul 2023 , 12:16 PM

IRB Infrastructure Developers Limited and its private InvIT, IRB Infrastructure Trust, announced its result for the month of June 2023 and reported a 16% y-o-y increase in toll revenue.

The company stated that it logged toll collection for the month of June 2023 of Rs 383 crore as compared to Rs 329 crore in the previous corresponding quarter.

As per the company, aggregate toll revenue for both entities in Q1FY24 stands at Rs 1,183 crore against Rs 1,000 crore in Q1FY23, thereby increasing 18% y-o-y.

‘First quarter of FY24 seems much more positive as an upward trend is anticipated in aggregate toll revenue against the corresponding quarter of the previous year, and we anticipate similar momentum for the remainder of FY24,’ said Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers Limited. 

IRB Infra owns about 20% of India’s prestigious Golden Quadrilateral project, which is the largest private infrastructure development project in India. The group holds a 37% market share in the TOT space.

IRB, India’s largest integrated private toll roads and highways infrastructure developer, has an asset base of over Rs 70,000 crore spread across 11 States through the parent company and two InvITs.

At around 12.15 PM, IRB Infra was trading 1.14% higher at Rs 26.70, against the previous close of Rs 26.40 on NSE.

For feedback and suggestions, write to us at [e-mail]