IRB Infrastructure Q3 Profit Up 18% to Rs 222 Crore

New Delhi, Jan 31 (PTI) IRB Infrastructure Developers Ltd (IRB) on Friday said it has reported an 18.7 per cent rise in profit after tax to Rs 222 crore in the December quarter.

It had posted a profit after tax "PAT, excluding exceptional gains" of Rs 187 crore in the year-ago period, the company said in a statement.

The company's PAT, including exceptional items, jumped manifold to Rs 6,026 crore against Rs 187 crore in the October-December period of the preceding 2023-24 financial year.

Its total income rose to Rs 2,090 crore over Rs 2,077 crore a year ago.

The company's board has also declared a third interim dividend of Re 1 totalling Rs 60.3 crore in the third quarter of FY25. This brings the total dividend for the first nine months of FY25 to Rs 181.1 crore.

During the quarter under review, the company witnessed a 21 per cent rise in aggregate toll collection to Rs 1,655 crore compared to Rs 1,373 crore in Q3FY24.

Its company Chairman and Managing Director Virendra D Mhaiskar said, "Our asset portfolio continues to excel with 21 per cent revenue growth in the current quarter. We have embarked on a strategic journey of asset rotation and unlocking the true value of our investments. This initiative includes a non-binding offer to Public InvIT and a value-enhancing initiative across our portfolio."

In the December quarter, IRB Infrastructure Trust made a non-binding offer to IRB InvIT Fund to transfer five toll assets having an enterprise value of Rs 15,000 crore as of September 2024.

IRB is India's first integrated infrastructure player in the highways segment.

It is the largest integrated private toll roads and highways infrastructure developer in India with an asset base of over Rs 80,000 crore in 12 states.