IRB Infrastructure says toll collections surge 30% in May – CNBC TV18

IRB Infrastructure Developers Ltd along with its associate IRB Infrastructure Trust, on Thursday (June 6) announced a strong year-on-year toll revenue growth of 30% for May 2024.

The combined toll collections for the month amounted to ₹536 crore, significantly higher than the ₹411 crore collected in May 2023, IRB Infrastructure Developers said in a regulatory filing.

Amitabh Murarka, Deputy CEO of IRB Infrastructure Developers, said, “With the annual toll tariff revision now effective from June 3, 2024, and the strong GDP numbers, we expect this positive trend in toll collections to continue in the upcoming quarters.”

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IRB Infrastructure Developers reported a 45.1% year-on-year jump in net profit at ₹188.9 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, IRB Infrastructure Developers posted a net profit of ₹130.2 crore.

The company’s revenue from operations increased 27.2% to ₹2,061.2 crore against ₹1,620 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA increased 17.3% to ₹889.9 crore in the fourth quarter of this fiscal over ₹758.7 crore in the corresponding period in the previous fiscal.

EBITDA is earnings before interest, tax, depreciation, and amortisation. The EBITDA margin stood at 43.2% in the reporting quarter against 46.8% in the corresponding period in the previous fiscal.

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Shares of IRB Infrastructure Developers Ltd ended at ₹70.30, up by ₹3.00, or 4.46% on the BSE.