Roads & Highways firm IRB Infrastructure Developers declares Q3FY22 result: IRB Infra posts net profit at Rs. 73 Crs; 6% up against corresponding quarter of FY21 Reports Revenue of Rs.1,498 Crores; EBIDTA of Rs.957 Crores Completed equity fundraise of Rs.5,347 Crs via Preferential Issue to two investors Awarded Rs. 6,656 Crs Ganga Expressway Group 1 project Achieved financial closure for two new projects; Commenced construction on HAM project in Gujarat Toll Collection through FASTags scaled up further to 93% Order Book is Rs. 18,500 Crs; 40% up QoQ Profit before taxes would have been higher by Rs.66 crores at Rs.284 crores as against Rs.218 crores after adjusting one-time finance cost of Rs.66 crores because of prepayment of debt during the quarter. Accordingly, Profit after share of JV (after tax) would have been higher by Rs 48 crores to Rs.121 crores as against 73 crores. While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the Company said, “It is an utmost pleasure to present the new unparalleled IRB to the world – owning one of the largest portfolio of road assets, backed by marquee eminent investors, with strong & lean balance sheet, having access to large pool of capital and the company with one of the best execution capabilities in the sector. The focus on improving our ESG practices will further strengthen our positioning, so also will the deployment of latest technologies across business functions to improve stakeholders experience.” He further said, “Q3FY22 was action packed for us and witnessed some remarkable feats on order wins front, which is expected to continue considering our efficient balance sheet and recently announced Infra Capex plan in the Union Budget 2023 by the Hon’ble Finance Minister. IRB’s unique business model will involve regular monetization of its stabilized assets to unlock significant value for its shareholders on continued long term basis.” Result PDF
IRB Infra posts Q2FY22 net profit at Rs. 42 Crs; Revenue at Rs. 1,504 Crs Highlights: Toll collections surpasses pre-COVID-19 levels in most of the assets Bagged Chittoor Thachur six laning highway HAM project in Tamil Nadu Achieves full COD for its Chittorgarh Gulabpura Rajasthan BOT Asset Starts commercial operations from newly developed Sindhudurg Airport While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the Company said, “Despite the impact of the second wave of the COVID-19 pandemic, the 2nd quarter was encouraging, as we achieved full COD for our Rajasthan BOT project, commenced commercial operations from Sindhudurg Airport, as well as bagged HAM project in Tamil Nadu and above all completed fund raising for the Private InvIT.” He further added, “With onset of Festival Season in India and more relaxations announced by the Govt., traffic movement is expected to significantly improve further resulting in much stronger H2FY22.” Result PDF