IRB Net Utility Jumps Q2 Infra 65 percent to Rs 235 Crore
‘The Q2 and the first half of interpretation are encouraging when this stepped robust for the arrival quarters and involved the main development IRB President Infra.
November 8: IRB Infrastructure Developers reported a 65% rise in their consolidated net profit to Rs 235 crore for the second quarter ended September 30. The company, which is one of the largest private roads and road developer, had timed a net profit of Rs 142 crore in the last corresponding fiscal quarter.
Your total income during the second quarter refused to Rs 1,269.21 crore compared to Rs 1,324.21 crore. Total expenses during the quarter decreased to Rs 911.93 crore compared to Rs 1,148.56 crore in the same period a year ago.
IRB President Infra and MD, Virendra D Mhaiskar said, ‘Q2 and the first half of interpretation are encouraging when this stepped robust for the arrival quarters and involved the main development. ‘We are out of GST led the slowdown in traffic and, since September, have been witnessing promising growth through projects. We have entered the second half with the most enthusiasm and we are looking forward to great opportunities that unfold with the latest initiatives of the Government, ‘he
Mhaiskar said, “We can jointly offer or we can offer alone, but we are in talks with potential partners for links since the Swallow model is a huge opportunity.” He added that the company now plans to also offer for NHAI projects under the model. of the hybrid annuity.
The company said its debt equity ratio reduced to 1.7: 1 from 2.1: 1 the InvIT mailing list for which this scrubbed around Rs 4,500 crore,and it is now in a net cash position, leading to a rating upgrade for the company a couple of notches — from ‘A-’ to ‘A+’ about a month earlier. At the end of the quarter, the company’s total order book stood at approximately Rs 8,200 crore, including `7,500 crore worth of orders for engineering, procurement and construction (EPC) contracts.
The company said that this has achieved financial closure for its Udaipur-Gujarat border project, granted by the NHAI and for this has also started to double as of September 4. The IRB said that this has started commercial operations in its Kaithal-Rajasthan border project as of September 8.