BackIRB Infrastructure’s Q4 profit up 26% at Rs151.13 crore
Net income from operations rose to Rs948.27 crore from Rs850.85 crore in the year-ago period
Premium(Priyanka Parashar/Mint)
New Delhi: IRB Infrastructure Developers Ltd., one of the largest domestic road builders on build-operate-transfer (BOT) mode, on Wednesday said its net profit grew by 25.57% to Rs151.13 crore on consolidated basis for the fourth quarter ended 31 March on the back of improved performance.
The company had posted net profit of Rs120.35 crore for the January-March quarter of the 2011-12 fiscal.
Net income from operations in Q4 rose to Rs948.27 crore from Rs850.85 crore in the year-ago period.
Total expenses of the company during the quarter under review were recorded at Rs634.91 crore, registering an increase of 11.67% from Rs568.52 crore in the corresponding quarter a year-ago.
For the 2012-13 fiscal, the company’s net profit registered an increase of 12.23% to Rs556.66 crore, as against Rs495.99 crore in 2011-12.
Its net sales also rose by 17.69% to Rs3,687.24 crore for the fiscal year ended 31 March 2013, from Rs3,133.01 crore.
As far as expenses were concerned during the last fiscal, the company’s total expenses stood at Rs2,495.48 crore as against Rs2,060.67 crore in the previous year.
During the year, IRB completed substantial work of Talegaon-Amravati project, Jaipur-Deoli project, Tumkur-Chitradurga project and Pathankot-Amritsar project, the company said in a statement. It added it also started construction work on Ahmedabad-Vadodara project in Q4 FY13.
“This has led to 21% increase in construction revenue for FY13 in comparison to FY12. Toll revenue has increased by around 10% in comparison to FY12 on the basis of moderate traffic growth and higher wholesale price index," it said.
The company said its order book stood at about Rs8,400 crore at present, out of which contracts worth Rs6,400 crore are to be executed in the next three years.
Meanwhile, the company also said that its board of directors have approved “raising of funds by issue of redeemable non-convertible debt securities (including senior debt securities or subordinate debt securities) up to Rs500 crore in one or more trances on private placement basis.
The shares of the company closed at Rs124.30 apiece, up 6.28% from the previous close on the BSE on Wednesday.
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