 "IRB's Q1 net at Rs 166 crore")
Infrastructure development and construction company IRB's net for Q1 ended June 30 up by 11% at Rs 166 crore against Rs 150 crore for the corresponding quarter previous year.
Income from operations has increased to Rs 1,137 crore against Rs 1,037 crore, a rise of 10%. EBITDA surged by 11% at Rs 656 crore against Rs 589 crore.
IRB's order book now stands at Rs 12,100 crore of which Rs 10,270 crore worth of order book is to be executed in the next three to four years.
The company has recently received letter of award from NHAI for the Rs 2,650 crore project of six laning of Agra Etawah bypass section of NH-2.
IRB's share on BSE closed at Rs 235.50, down 1.57%.
Company's contract and site expenses increased to Rs 281.34 crore against Rs 191.37 crore. Further, the employee benefits expense rose to Rs 48.02 crore against Rs 41.99 crore.
Further, the board of directors today cleared formation of Infrastructure Investment Trust under Sebi Regulations, 2014. The board proposes to increase the limit under section 180 (1) (a) of the Companies Act, 20132 to Rs 36,000 crore from Rs 20,000 crore which requires the approval of the shareholders of the company.