IRB Infrastructure Developers share price jumped as much as 5.2 percent in intra-day trade to hit the day's high of Rs 247.45 apiece. The buying in IRB Infra stock price came after toll collections in August jumped 35 percent on year to Rs 336 crore. The robust toll collection also fuelled hopes of IRB Infra reporting strong earnings in the second quarter.
IRB Infra reported a multi-fold increase in consolidated net profit at Rs 363.19 crore for the quarter ended June 30. Total consolidated income during the quarter under review rose to Rs 1,995.40 crore as against Rs 1,670.48 crore in the year-ago period. Its expenditure declined to Rs 1,452 crore during the June quarter, compared to Rs 1,529.73 crore earlier.
Revenue rose 18 percent to Rs 1,925 crore compared to last year's Rs 1,626 crore. Earnings before interest, taxes, depreciation, and amortization or EBITDA — a measure of a company's overall financial performance — jumped over 50 percent from Rs 701 crore to Rs 1,061 crore.
The company expects Rs 2,100 crore in toll revenues and Rs 4,000-5000 crore in construction revenue for FY23, Tushar Kawedia, Group CFO, IRB Infrastructure, had recently told CNBC-TV18.
At 12.54 pm, IRB Infrastructure Developers stock price was trading at Rs 240.30 on BSE, up 2.17 percent. The day's high came in at Rs 247.4.
