Here's why IRB Infrastructure shares jumped by 9% on Tuesday
For the month of December, the toll collection reached Rs 488 crore, marking a significant 26% year-on-year increase compared to Rs 388 crore. Additionally, the company has initiated toll collection on new projects, with expectations of further positive impact on future figures.
IRB Infrastructure's stock was buzzing in trade on Tuesday, January 9, driven by an upward trend in toll collections. The surge in revenue was attributed to increased traffic volume and price hikes implemented on certain toll roads operated by the company.
In December, the toll collection reached ₹488 crore, marking a significant 26% year-on-year increase compared to ₹388 crore. Additionally, the company has initiated toll collection on new projects, with expectations of further positive impact on future figures.
The toll collections for IRB InvIT also witnessed growth, reaching ₹90.2 crore compared to ₹77.7 crore on a year-on-year basis.
Notably, the company recently secured a substantial order worth ₹1,683 crore from the National Highways Authority of India (NHAI) for the Gwalior-Jhansi and Kota bypass, encompassing tolling, operation, and maintenance responsibilities.
Earlier, the NHAI granted a Letter of Acceptance (LoA) to the trust for TOT-12 (Lalitpur-Lakhnadon section on NH44) with an initial payment of ₹4,428 crore and a concession period linked to revenue spanning 20 years.
On Tuesday, IRB Infrastructure's shares surged by 8.90% to close at ₹45.90 on the National Stock Exchange. Notably, the stock has delivered impressive returns of around 72% over the last six months.
(Edited by : Ajay Vaishnav)
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