IRB Infrastructure's Toll Revenue Surges 24%, Stock Gains 4%

11 Sep 2023 , 01:09 PM

IRB Infrastructure shares surged nearly 4 % on September 11. At the time of writing, the stock trades 3.29 % higher at Rs 34.55 on the NSE. The Mumbai-based highway developer reports toll revenue of Rs 417 crore for August 2023, marking a 24 % increase from the previous year.

Wholly owned subsidiaries managing Mumbai Pune and Ahmedabad Vadodara projects record an aggregate toll revenue of Rs 198 crore, up 20 % YoY. Joint venture entities under IRB Infrastructure Trust, Private InvIT, achieved toll revenue of Rs 219 crore in August 2023, a robust 28 % YoY growth. Over the last six months, IRB Infrastructure stock has delivered a return of 18.79 %, outperforming the Nifty50 index, which provides a return of 15.54 % over the same period.

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