IRB Infra back on track

about 4 months ago
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IRB Infra declared its Q3FY21 earnings yesterday after market hours. It reported a 56% (YoY) decline in consolidated net profit at Rs.69 crore though, QoQ, it jumped back into the black from a loss of Rs.20 crore in Q2.

Its total income rose 36% (QoQ) at Rs.1595 crore. EBITDA came in at Rs.768 crore, up 28%

The company said that it has witnessed strong recovery in toll collections witnessed for all projects, as economic activity picked up across the country while seeing significant improvement seen in construction pace as well.

It achieved COD for its Agra – Etawah 6 Laning project; resulting in tariff collection effected at full rates with over 66% tariff revision.  

It also achieved Financial Closure for the Gandeva – Ena HAM Project, awarded in September 2020. With this there are no Financial Closures pending in its asset portfolio.

This is the largest private toll roads and highways infrastructure developer in India and has approx. 20% share in India’s prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.

The stock price rose 3.5% to Rs.117.65. Its 52-week high is at Rs.138.80 and low at Rs.46. Its 20% UC for the day is at Rs.136.55.

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