IRB Infra's Q3 FY25 results: Profit jumps multifold to Rs 6,026 crore

The company recognised exceptional gains of Rs 5,804 crore over fair-value assessments

IRB Infrastructure Developers (IRB Infra) reported a multifold increase in its net profit after tax for the third quarter of financial year 2024-25 (Q3 FY25), as profit stood at Rs 6,026 crore, including exceptional gains of Rs 5,804 crore, arising from fair-value assessments of its investments in InvITs and related assets.

 

The company’s profit for Q3 FY24 was Rs 187.42 crore, while for Q2 FY25, it was Rs 99.9 crore.

 

Further, in Q3 FY25, the company’s total revenue from operations stood at Rs 2,025.44 crore, up marginally by 2.9 per cent year-on-year (Y-o-Y).

 

Commenting on the financials, Virendra Mhaiskar, chairperson and managing director of IRB Infra, said, “As we build on this momentum, we have embarked on a strategic journey of asset rotation and unlocking the true value of our investments. This initiative includes a non-binding offer to Public InvIT and a value-enhancing initiative across our portfolio.”

 

 

The company’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter increased by 7 per cent Y-o-Y to Rs 1,049 crore. It also declared the third interim dividend of 10 per cent for FY25.

 

IRB Group’s aggregate toll collection in Q3 FY25, including IRB Infra and its private infrastructure investment trust (InvIT) associate, grew by about 21 per cent Y-o-Y, to Rs 1,655 crore.

 

During the quarter, IRB’s associate arm, IRB Infrastructure Trust, a private InvIT, offered five of its matured assets with an enterprise value of Rs 15,000 crore to the IRB InvIT Fund, a public InvIT. Currently, IRB has an asset base of Rs 80,000 crore across 12 Indian states, spanning the parent company and two InvITs.

 

The company’s Meerut-Budaun Expressway, Package 1 of the upcoming Ganga Expressway Greenfield build-operate-transfer (BOT) project, is now part of the IRB Infrastructure Trust.

 

Mhaiskar stated that the firm intends to “actively participate” in the bidding opportunities for BOT and toll-operate-transfer (TOT) projects under the government’s public-private partnership (PPP) initiative.