IRB Infra shares up nearly 8 pc after earnings

Shares of IRB Infrastructure Developers Ltd today climbed nearly 8 per cent after the company reported a 11.77 per cent rise in consolidated net profit for the quarter ended June 30.
The company's scrip ended the day at Rs 257.45, up 7.79 per cent on the BSE. During the day, it rose by 8.81 per cent to Rs 259.90.
At the NSE, the stock settled with a gain of 7.45 per cent at Rs 256.70.
IRB Infrastructure Developers Ltd had yesterday reported a 11.77 per cent rise in consolidated net profit at Rs 150.39 crore for the quarter ended June 30 on the back of lower costs.

The company's net profit in the corresponding quarter of the last fiscal was Rs 134.56 crore, IRB Infrastructure had said in a filing to BSE.
However, the company's income from operations in the April-June quarter declined to Rs 1,010 crore, over Rs 1,032 crore in the same quarter of FY'14, it had said.
The total expenses came down to Rs 623.79 crore, over Rs 699.37 crore in the first quarter of the previous fiscal, it had said.