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IRB Infra shares Q1 updates, says toll revenue up 18%

IRB Infra shares Q1 updates, says toll revenue up 18%

IRB Infra said the first quarter of FY24 was positive due to trend seen in aggregate toll revenue. It expects a similar momentum for the rest of FY24.

Amit Mudgill
Amit Mudgill
  • Updated Jul 10, 2023 8:20 AM IST
IRB Infra shares Q1 updates, says toll revenue up 18%IRB Infra is an integrated infrastructure player in highways segment. IRB Infra's toll collection for the month stood at Rs 383 crore compared with Rs 329 crore in the corresponding month last year.

Shares of IRB Infrastructure Developers Ltd (IRB Infra) will be in focus on Monday's trade after the company said it, along with its private InvIT, registered an year-on-year (YoY) toll revenue growth of 16 per cent in June and 18 per cent for the June quarter.

IRB Infra's toll collection for the month stood at Rs 383 crore compared with Rs 329 crore  in the corresponding month last year. With this, the aggregate toll revenue of both the entities for Q1FY24 went up to Rs 1,183 crore from Rs 1,000 crore in the corresponding quarter last year, up 18 per cent.

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Deputy Chief Executive Officer Amitabh Murarka, said: “First quarter of FY24 looks much positive as an upward trend seen in aggregate toll revenue as compared to corresponding quarter of last fiscal. We expect similar momentum for rest of FY24.”

IRB Infra is an integrated infrastructure player in highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs 70,000 crore in 11 states across the parent company and two InvITs.

The company has approximately 20 per cent share in Golden Quadrilateral project, which is the largest by any private infrastructure developer in India. In the TOT space, the group commands a market share of 37 per cent.

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After successfully completing 13 concessions and handing over them to the nodal agencies, at present, IRB Group’s project portfolio (including Private and Public InvIT) has now 24 road projects that include 18 BOT, 2 TOT, and 4 HAM projects.

"Marching ahead with the momentum built up in the first two months of Q1FY24, IRB Infrastructure Developers Limited, India’s leading and the largest integrated multinational infrastructure player in the highways sector and its private InvIT, IRB Infrastructure Trust, have registered the toll revenue growth of 16 per cent in the month of June 2023," IRB Infra said.

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jul 10, 2023 7:45 AM IST
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