IRB Infra slips as Q1 PAT drops 63% YoY to Rs 134 cr

Total income declined 12.5% year on year to Rs 1,745.47 crore in the quarter ended 30 June 2023.

Profit before tax stood at Rs 217.37 crore in the June quarter, sliding 57.4% from Rs 510 crore recorded in Q1 FY23.

EBITDA in Q1 FY24 was at Rs 889 crore, down 21.4% as compared with 1,131 crore reported in Q1 FY23.

During the quarter, the company witnessed a growth of 18% year on year in the toll collection.

Virendra D. Mhaiskar, chairman & managing director, IRB Infrastructure Developers, said, ?We continue to witness robust momentum in toll collection. Recently added projects of Hyderabad ORR TOT and Samakhiyali to Santalpur BOT project are set to commence during Q2 and will meaningfully contribute to both, toll collection as well as construction segment, from Q3 onwards. We have traditionally witnessed higher levels of activity in the second half for both our segments which gives us confidence that we will further build upon this performance in the second half of the financial year.?

IRB Infrastructure Developers (IRB) is India's first Multinational Infrastructure player in Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, with this win, IRB group's asset base will swell to over Rs 70,000 crore spread in 11 States across the parent company and two InvITs.

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