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The net profit of IRB Infrastructure Developers Ltd (IRB Infrastructure), a road infrastructure developer, rose 5 per cent to ₹250 crore during the April-June quarter from ₹238 crore a year earlier.
Revenue down
The company’s revenues in the first quarter declined by 15 per cent to ₹1,583 crore (₹1,870 crore) in Q1FY18 due to completion of two road projects.
Revenue from new projects will commence from the second-half of the current financial year, the company said.
IRB Infrastructure has announced an interim dividend of ₹2.50 per share of ₹10 each for FY19.
“We had a stupendous performance in FY18 which we are taking forward in FY19 too,” Virendra D Mhaiskar, Chairman and Managing Director, said, adding that the company is confident of achieving the targeted growth over the next six-seven quarters.
Project portfolio
IRB Infrastructure has a portfolio of 17 road projects and seven projects under operation and maintenance contracts as a project manager for IRB InvIT - an infrastructure investment trust that it floated last year.
The company’s order book as on date stands at more than ₹14,100 crore.
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