IRB Infrastructure Developers Ltd. (IRB) on Monday said that it has reported a first-quarter profit after tax (PAT) of Rs 134 crore and consolidated income of Rs 1,745 crores. The company announced its financial results for the first quarter ended 30th June 2023 of the financial year 2023-24.
The adjusted PAT has gone up by 59% whereas an 11% rise has been reported in the adjusted consolidated income of the company, against the corresponding quarter of FY23.
“We are pleased to commence FY23-24 on a positive note with a strong performance in the first quarter. We continue to witness robust momentum in toll collection” He added, “Recently added projects of Hyderabad ORR TOT and Samakhiyali to Santalpur BOT project are set to commence during Q2 and will meaningfully contribute to both, toll collection as well as construction segment, from Q3 onwards. We have traditionally witnessed higher levels of activity in the second half for both our segments which gives us confidence that we will further build upon this performance in the second half of the financial year,” said Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Limited.
The company witnessed aggregate toll collection growth of 18% Y-o-Y for the quarter under review in the assets under IRB Infra portfolio and the assets under IRB Infrastructure Trust. The toll collection for Q1FY24 was Rs1,183 crore as against Rs1,000 crore in the corresponding quarter of FY23.
In India, IRB is the first Integrated Multinational Infrastructure player in the Highways segment. As the largest integrated private toll roads and highways infrastructure developer in the country, IRB has an asset base of over Rs 70,000 crore in 11 states across the parent company and two InvITs.