IRB Infra’s FY23 PAT grows to Rs 720 crore

22 May 2023 , 03:08 PM

IRB Infrastructure Developers Ltd. announced its financial results for the fiscal year 2023. The company’s consolidated net profit for the fiscal year experienced a year-on-year decrease of 25%, amounting to Rs 130.15 crore.

However, the company achieved a 13% year-on-year increase in consolidated revenue for FY23 at Rs 1,619.98 crore. The growth in revenue was driven by successful performance in BOT (Build-Operate-Transfer) and TOT (Toll-Operate-Transfer) projects, as well as construction projects, which collectively contributed to overall sales.

During the quarter under review, the company witnessed an 18% rise in EBITDA, reaching Rs 758.74 crore. Additionally, the operating margin expanded to 46.84% from 44.75% compared to the previous year.

The company stated that Toll revenue including Private InvIT SPVs, in FY23 was 40% higher y-o-y. Further, toll collection through FASTag crossed 95% mark. 

It secured the contract for the construction and operation of the 90.90 km long six-lane BOT project, connecting Samakhiyali to Santalpur on NH27 in Gujarat, with a project cost of Rs 2,132 crore.

The company operates in the road infrastructure development sector. It secures contracts through competitive bidding in response to tenders, which necessitates the formation of Special Purpose Vehicle (SPV) entities to undertake and complete the projects that have been awarded.

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