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IRB Infra Q1 Profit Rises Over 10% To Rs 182 Crore

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IRB Infra Q1 Profit Rises Over 10% To Rs 182 Crore

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New Delhi: IRB Infrastructure Developers Ltd on Thursday reported a 10.5 per cent rise in consolidated net profit at Rs 181.88 crore for the fiscal first quarter that ended on June 30, 2016.

The company had posted a net profit of Rs 164.49 crore for the corresponding period a year ago, it said in a filing to the BSE.

Income from operations in the quarter under review increased to Rs 1,517.33 crore as against Rs 1,108.88 crore in the year-ago period.

"During the quarter, the group has paid/accrued Rs 7,699.27 lakh (3 months ended June 30, 2015 : Rs 7,047.54 lakh) as revenue share to National Highways Authority of India (NHAI) out of its toll collection in accordance with the concession agreement entered with NHAI. Income from operations in the financial results is the net of the above revenue share to NHAI," the company said.

The revenue from the BOT (build-operate-transfer) projects increased to Rs 601.17 crore, over Rs 518.62 crore in the year-ago period.

In the construction segment, the revenue increased to Rs 913.08 crore, over Rs 588.50 crore in the year-ago period.

The company undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

The company along with its subsidiaries has constructed or operated and maintained around 9,295 lane km of road length so far and is one of the major road developers in the country, according to its website.


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