Toll road developer IRB Infrastructure has posted a 26 per cent rise in net profit at Rs 151 crore (Rs 120 crore) for the quarter ended March 31. This is on the back of higher revenues from toll collection due to moderate traffic growth and higher wholesale price index compared to the previous year. Income from operations was up 11 per cent at Rs 980 crore (Rs 883 crore).
For FY13, total income was up 17 per cent at Rs 3,817 crore (Rs 3,258 crore) and net profit higher at 12 per cent to Rs 557 crore (Rs 496 crore). IRB has declared an interim dividend of Re 1 per share. Total dividend for the year stands at Rs 4 a share on equity share of Rs 10 each.
IRB Infra has informed the stock exchange that its Board of Directors has approved raising of funds by issue of redeemable non-convertible debt securities (including senior debt or subordinate debt securities) up to Rs 500 crore in one or more tranches on private placement basis. IRB’s order book is at about Rs 8,400 crore of which Rs 6,400 crore worth of orders is to be executed in the next three years. IRB has 18 build operate and transfer (BOT) projects of which 13 are operational. On Wednesday, IRB scrip closed 6.28 per cent higher at Rs 124.30 on the BSE