IRB Infrastructure Developers Ltd. and its private InvIT arm, IRB Infrastructure Trust, on Monday collectively reported a 16 percent growth in toll collection in June on a year-on-year basis, across all projects.
The toll collection for June quarter (Q1FY24) stood at Rs 383 crore compared to Rs 329 crore in the year-ago period, IRB Infrastructure Developers said in a filing to the stock exchanges.
With this, the aggregate toll revenue of both entities for the April-June quarter of the current financial year rose to Rs 1,183 crore from Rs 1,000 crore in the corresponding quarter of financial year 2023, registering an increase of 18 percent compared to the corresponding quarter a year ago.
"First quarter looks much more positive as an upward trend is seen in aggregate toll revenue as compared to the corresponding quarter of the last fiscal. We expect similar momentum for the rest of financial year 2024," Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers said.
Individually, IRB InvIT witnessed seven percent year-on-year growth in toll collection rising to Rs 82.7 crore in June quarter.
IRB Infra has an asset base of over Rs 70,000 crore in 11 states across the parent company and two InvITs. It is the largest integrated toll roads and highways infrastructure developer in the country.
The company holds nearly 20 percent share in the Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.
In an interview with CNBC-TV18 in February, Tushar Kawedia, CFO of IRB Infra, stated that toll collections were expected to rise 10-12 percent in FY24.
Shares of IRB Infra are trading 1.1 percent higher at Rs 26.70.
