IRB Infrastructure Developers rallied 3.14% to Rs 68.09 after the company reported 45.12% jump in consolidated net profit to Rs 188.88 crore on 27.24% increase in revenue from operations to Rs 2,061.24 crore in Q4 FY24 over Q4 FY23.
Profit before tax climbed 50.37% year on year to Rs 309.02 crore in the quarter ended 31 March 2024.
EBITDA in Q4 FY24 was at Rs 1,333 crore, registering a growth of 59.07% from Rs 838 crore posted in Q4 FY23.
The company and its associate IRB Infrastructure Trust (Private InvIT) collectively reported 24% YoY growth in the toll collection for FY24
On full year basis, the company's consolidated net profit declined 15.86% to Rs 605.81 crore despite of 15.74% increase in revenue to Rs 7,409 crore in FY24 over FY23.
Meanwhile, the company has declared third interim dividend of Re 0.10 per equity share for FY24. The record date for the purpose of payment of dividend is Wednesday, 15 May 2024.
Virendra D. Mhaiskar, chairman & managing director, IRB Infrastructure Developers, said, FY24 was an astounding year. We not only received three prestigious TOT awards but also tied up finances, made upfront payment of concession fees to the respective authorities and commenced tolling on these projects well within the set timelines. To add a jewel in the crown, we had another proud moment, when we received ISO certifications from the UK based ISOQAR for our efforts in establishing quality, environment, occupational health, and safety as well as IT security systems in our operations.
IRB Infrastructure Developers (IRB) is one of the leading infrastructure development companies in India in road and highway sector, with presence in Build-Operate-Transfer (BOT) and HAM space. The company undertakes development of various infrastructure projects in the road sector through several Special Purpose Vehicles. IRB's work spans from building of roads, highways, bridges, and tunnels, recently the company diversified its business into real estate development sector also.
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