Mumbai: IRB Infrastructure Developers Ltd. (IRB Infra) has posted Net Profit of Rs. 219 crores. for the 3rd Quarter ended 31st December 2018; thus registering growth of 6 per cent as against the corresponding quarter of FY18.
The Company has also posted Total Income of Rs 1,835 crores. for Q3 FY19, as against the Total Income of Rs 1,342 crores in Q3 FY18; thus registering a growth of 37 per cent.
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 pc |
| 2 | Profit before tax | 388 | 318 | 22 pc |
| 3 | Net Profit | 219 | 207 | 6 pc |
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 pc |
| 2 | Profit before tax* | 1,112 | 953 | 17 pc |
| 3 | Net Profit before extraordinary items* | 642 | 553 | 16 pc |
| 4 | Net Profit after extraordinary items | 642 | 680 | (6 pc) |
# 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:
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Achieved Financial Closure for the 3rd HAM Project, i.e., Vadodara – Kim stretch of Vadodara – Mumbai Expressway project by arranging finances of Rs 981 crores. To update, the Company has received Appointed Date from NHAI, which would now facilitate commencement of construction on the project
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Total Order Book stands at approx. Rs 12,150 crores. at the end of Q3 FY19
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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
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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 Kilometres, comprising near 20 per centshare in India’s prestigious Golden Quadrilateral project; maintaining assets of more than Rs. 35,000 crores. 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.
Disclaimer: This article has not been edited by Deccan Chronicle and is taken from a syndicated feed. Photos: NewsVoir.
