• Download mobile app
15 Sep 2019, Edition - 1524, Sunday

Trending Now

  • If govt fails to curb social media misuse, we’ll step in: SC
  • BJP MPs replace Congress leaders as heads of 2 parliamentary panels
  • Amit Shah kicks off Sewa Saptah by visiting AIIMS in Delhi

Post

Q3 FY19 Results: IRB Infrastructure Posts Net Profit Rs. 219 Crs.; Total Income Rs. 1835 Crs.

Covai Post Network

  • Net Profit up 6%; Total Income up 37% against Q3 FY18

 

IRB Infrastructure Developers Ltd. (IRB Infra) has posted Net Profit of Rs. 219 Crs. for the 3rd Quarter ended 31st December 2018; thus registering growth of 6% as against the corresponding quarter of FY18. 

 

The Company has also posted Total Income of Rs. 1,835 Crs. for Q3 FY19, as against the Total Income of Rs. 1,342 Crs. in Q3 FY18; thus registering a growth of 37%.

 

IRB Infra announced its unaudited financial results for Q3 FY19 at the Board Meeting held in Mumbai today.  

 

The highlights of Financial Performance are:

 

Q3 FY19 v/s. Q3 FY18:                    

 Sr. No.

Particulars

Q3 FY19

(In Crs. Rs.)

Q3 FY18

In Crs. Rs.)

% Increase /

(Decrease)

1

Total Income

1,835

1,342

37%

2

Profit before tax

388

318

22%

3

Net Profit

219

207

6%

 

 

9M FY19 v/s. 9M FY18:                     

Sr. No.

Particulars

9M FY19

(In Crs. Rs.)

9M FY18

(In Crs. Rs.)

% Increase /

(Decrease)

1

Total Income#

4,904

4,431

11%

2

Profit before tax*

1,112

953

17%

3

Net Profit before extraordinary items*

642

553

16%

4

Net Profit after extraordinary items

642

680

(6%)

 

# Total Income for 9M FY19 is impacted due to 8 days of transporters strike.

* Excluding extraordinary items of Rs. 127 crores for 9M FY18.

 

While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We are happy to report growth for yet another quarter aided by slight pick-up in traffic and continued execution of Projects on hand. We achieved Financial Closure for our Gujarat project during the quarter and will start construction shortly. Q4 FY19 is expected to be even stronger with continued traffic momentum and as we near completion for some of our projects.”

 

The highlights of quarterly performance are:

  • Achieved Financial Closure for the 3rd HAM Project, i.e., Vadodara – Kim stretch of Vadodara – Mumbai Expressway project by arranging finances of Rs. 981 Crs. To update, the Company has received Appointed Date from NHAI, which would now facilitate commencement of construction on the project

  • Total Order Book stands at approx. Rs. 12,150 Crs. at the end of Q3 FY19

  • Of the four projects bagged last year, appointed date has been received for one while the same is awaited for two projects and discussions on Financial Closure for fourth project are at advanced level

  • Achieved CoD for Ahmedabad Vadodara project and accordingly tariffs increased for NH8

 

About IRB Infrastructure Developers Ltd.

IRB Infrastructure Developers Ltd (IRB) is leading and one of the largest private roads and highways infrastructure developing Companies in India. 

 

The Company, at present, is having 24 projects, out of which, 7 projects have been operational under BOT space; 7 projects are under O & M contracts for IRB InvIT and 7 projects are under various stages of construction. The Company had 3 projects under Hybrid Annuity Model. 

 

The Company’s portfolio includes completion of 12,800 lanes Kms, comprising near 20% share in India’s prestigious Golden Quadrilateral project; maintaining assets of more than Rs. 35,000 Crs. under BOT as well as O&M space, which is the largest by any private highways infrastructure developers in India.

 

IRB Infra, in its journey of more than two decades towards excellence and creating footprints of across the Nation, irrespective of geographical areas, has achieved several unmatchable milestones, like operating India’s first ever BOT project of Bhivandi Bypass in Maharashtra; operating India’s first expressway project, i.e., Mumbai-Pune Expressway; constructing Ahmedabad Expressway, etc. IRB Infra has also been instrumental in successful launching and listing of India’s first Infrastructure Investment Trust, i.e., InvIT. 

Source: Newsvior

Subscribe To Our Newsletter

COIMBATORE WEATHER