IRB Announces Net Profit of Rs. 207 Cr for Q3 FY18
New Delhi: IRB Infrastructure Developers Ltd. (IRB); India’s leading and one of the largest highways infrastructure developers, has today announced its unaudited financial results for the Q3 FY18 and posted a Net Profit of Rs. 207 Cr for the quarter; 13% up as against Q3 FY17, despite a transfer of seven BOT projects to IRB InvIT during the year. The Company has reported a marginal declinein total income of 7% YoYwith these seven assets moving to InvIT.
The company also declared second interim dividend of Rs. 2.50 per share for FY18. Earlier, the Company had declared Rs.2.50 per share as an interim dividend on 24th July 2017.
The Company has been conferred on the prestigious ‘FinanceAsia Achievement Award 2017 – Best India Deal’ Award by Hong Kong based FinanceAsia, a globally renowned publication, for successfully launching and listing India’s first InvIT IPO and raising ~Rs.5000Cr.
While commenting on the occasion, Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “Continuing with the growth trend witnessed in the month of September last quarter, Q3 FY18marked a return to anticipated robust uptick in traffic movement across all our projects, and with EPC progressing in line with expectation, we are all set for a stupendous Q4 as well. What is most satisfying is the performance of our new projects in the state of Rajasthan, which reinforcesand underpins our return expectations as well as outlook for forthcoming quarters.”
Further, while commenting on getting the FinanceAsia Achievement Award, he added,“We are extremely grateful to the FinanceAsia for recognizing our endeavours and thank all our investors for overwhelmingly supporting India’s first InvIT venture.”