Roads & highways company IRB Infrastructure Developers announced Q1FY24 results: Q1FY24 PAT of Rs 134 crore and consolidated Income of Rs 1,745 crore against adjusted PAT of Rs 84 crore and adjusted Consolidated Income of Rs 1,578 crore in Q1FY23. Adjusted PAT & consolidated Income up YoY by 59% & 11% respectively Toll collection for Q1FY24 grows 18% YoY While commenting on the occasion, Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers said, “We are pleased to commence FY24 on a positive note with a strong performance in the first quarter. We continue to witness robust momentum in toll collection”. He added, “Recently added projects of Hyderabad ORR TOT and Samakhiyali to Santalpur BOT project are set to commence during Q2 and will meaningfully contribute to both, toll collection as well as construction segment, from Q3 onwards. We have traditionally witnessed higher levels of activity in the second half for both our segments which gives us confidence that we will further build upon this performance in the second half of the financial year.” Result PDF
Roads & Highways company IRB Infrastructure Developers announced Q4FY23 & FY23 results: Consolidated Income for FY23 rises 5% YoY to Rs 6,703 crore FY23 PAT doubles YoY to Rs 720 crore Declares 2nd Interim Dividend of 7.5% on face value of equity share of Re 1/- each Q4FY23 PAT is Rs 130 crore; Consolidated Income is Rs 1,699 crore Toll revenue including Private InvIT SPVs, in FY23 was 40% higher YoY Toll collection through FASTag crossed 95% mark Construction commenced on Ganga Expressway and Palsit Dankuni BOT projects; and Chittoor Thachur and Pathankot Mandi HAM project Bagged Samakhiyali to Santalpur 6 laning BOT project of 90.90 kms stretch on NH27 with cost outlay of Rs 2,132 crore in the State of Gujarat Completed re-financing of 3 BOT assets under Company’s private InvIT through redeemable non-convertible debentures issued on private placement basis, thereby cashflow saving of Rs 550 crore over the period of 5 years Transferred Vadodara Kim HAM project, which is part of New Delhi Mumbai 8 Lanes Greenfield Expressway and realised 1.2 times of equity invested, to the IRB InvIT Fund, a listed Public InvIT sponsored by the Company Commenting on the occasion, Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers said, “We experienced vibrant FY23 on all fronts. We bagged new BOT project; started construction of two BOTs and a HAM project; achieved CODs for couple of BOT projects; and witnessed robust growth in toll collection. To add, we transferred a HAM project to the public InvIT; saw investments coming in from our global partner for prestigious Ganga Expressway; we facilitated equity share split to enhance interest of small investors, etc.” He further added, “FY24 looks to be promising, as we had 19% toll revenue growth in first month itself; got another TOT project, taking our share in TOT space to ~37%, the largest by any player in the sector. We expect to continue growth momentum throughout the year.” Result PDF