IRB Infra Q4 net down 28% to Rs 109 crore

IRB Infrastructure Developers Ltd today reported 27.7 per cent drop in consolidated net profit at Rs 109.23 crore for the quarter ended March 31 due to lesser income from operations and higher finance cost.

The company's net profit in the corresponding quarter of the year-ago period was Rs 151.13 crore, the company said in a filing to BSE.

The income from operations also came down to Rs 882.87 crore from Rs 948.27 crore in the corresponding quarter, it said.

"During the quarter, the group has paid/accrued Rs 17,833.95 lakh (Rs 178.33 crore)... As revenue share/premium to National Highways Authority of India (NHAI)... Income from operations is net of revenue share/premium to NHAI of Rs 12,713.94 lakh (Rs 127.13 crore) ... And balance Rs 5,120.01 lakh (Rs 51.2 crore)... Is capitalised to toll collection rights under development," the company said.

The finance cost during the quarter went up to Rs 209.85 crore, from Rs 162.19 crore in the year-ago period.

During the quarter, the company promoted and incorporated a new subsidiary Solarpur Yedeshi Tollway Pvt Ltd, it said.

IRB's order book stands at around Rs 12,000 crore, out of which orders worth Rs 10,000 crore will be executed in the next three to four year, it added.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Kerala, god’s own country, will always be free spirited

    Candy is dandy, but liquor is quicker,” the celebrated American poet Ogden Nash had once said famously.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>:The over-the-top effect effect

The overconfidence effect is a bias in which someone’s subjective ...

Parvez Imam

The absoluteness in representations

When a representation replaces the original object or subject, a ...

Dharmendra Khandal

Religion and conservation must go hand in hand

In 1986, former president of WWF International, HRH Prince Philip, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture