IRB Infra gains after toll collection jumps 36% YoY

IRB Infrastructure Developers rose 1.34% to Rs 283.50 after the company's toll collection jumped 36% YoY to Rs 374.81 crore in January 2023 compared with Rs 276.44 crore in January 2022.

Sequentially, the company's gross toll collection dropped 3.4% as against Rs 388 crore in December 2022.

The gross toll collection of IRB Infra's wholly-owned subsidiaries in January 2023 was Rs 184.42 crore (up 19.68% YoY).

The joint ventures entities under IRB Infrastructure Trust reported gross toll collection of Rs 190.39 crore (up 55.61% YoY) for the period under review.

Virendra D. Mhaiskar, chairman & managing director of IRB Infrastructure Developers said, The consistently robust growth in toll revenue across all our projects over last year reflects economic stability that the country has achieved post pandemic and these corridors are playing vital role in it.

IRB Infrastructure Developers is engaged in carrying out construction works in accordance with EPC contract and providing operation and maintenance services mainly with its subsidiaries and joint ventures.

The company's consolidated net profit surged 101.6% to Rs 85.31 crore despite of 8.3% decline in net sales to Rs 1342.95 crore in Q2 FY23 over Q2 FY22.

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