New Delhi: IRB Infrastructure Developers Ltd on Friday reported a 27.95% rise in consolidated net profit at ₹ 169.60 crore for the quarter ended 31 December on the back of higher income from operations. The infrastructure firm had reported a net profit of ₹ 132.55 crore in the year-ago period.
Income from operations rose 38.33% to ₹ 1,333.32 crore from ₹ 963.82 crore in October-December period of the previous fiscal year. Total expenses in the quarter increased to ₹ 871.89 crore from ₹ 587.30 crore in the year-ago period.
The company undertakes development of various infrastructure projects in the road sector through several special purpose vehicles. The company’s order book now stands at about ₹ 15,500 crore. “This gives good revenue visibility to IRB in the coming years,” it said. IRB is one of the largest private developers in India with 20 road BOT (build, operate, transfer) projects out of which 13 are under operation.
Shares of the company closed 3.69% higher at ₹ 243.35 apiece on BSE, while the Sensex rose 1.64% to 24,870.69.
