IRB Infrastructure's profit up 26% at Rs 151.13 cr
New Delhi: IRB Infrastructure Developers, one of the largest domestic road builders on BOT mode, on Wednesday said its net profit grew by 25.57 percent to Rs 151.13 crore on consolidated basis for the fourth quarter ended March 31 on the back of improved performance.
The company had posted net profit of Rs 120.35 crore for the January-March quarter of the 2011-12 fiscal.
Net income from operations in Q4 rose to Rs 948.27 crore from Rs 850.85 crore in the year-ago period.
Total expenses of the company during the quarter under review were recorded at Rs 634.91 crore, registering an increase of 11.67 percent from Rs 568.52 crore in the corresponding quarter a year-ago.
For the 2012-13 fiscal, the company's net profit registered an increase of 12.23 percent to Rs 556.66 crore, as against Rs 495.99 crore in 2011-12. 12.23
Its net sales also rose by 17.69 percent to Rs 3,687.24 crore for the fiscal year ended March 31, 2013, from Rs 3,133.01 crore.
As far as expenses were concerned during the last fiscal, the company's total expenses stood at Rs 2,495.48 crore as against Rs 2,060.67 crore in the previous year.
During the year, IRB completed substantial work of Talegaon Amravati project, Jaipur Deoli project, Tumkur Chitradurga project and Pathankot Amritsar project, the company said in a statement. It added it also started construction work on Ahemadabad Vadodara project in Q4 FY 13.
"This has led to 21 percent increase in construction revenue for FY 2013 in comparison to FY 2012...Toll revenue has increased by around 10 percent in comparison to FY 2012 on the basis of moderate traffic growth and higher wholesale price index," it said.
The company said its order book stood at about Rs 8,400 crore at present, out of which contracts worth Rs 6,400 crore are to be executed in the next three years.
Meanwhile, the company also said that its board of directors have approved "raising of funds by issue of redeemable non-convertible debt securities (including senior debt securities or subordinate debt securities) up to Rs 500 crore in one or more trances on private placement basis.
The shares of the company closed at Rs 124.30 apiece, up 6.28 percent from the previous close on the BSE on Wednesday.