IRB Infrastructure Developers’ shares rose in early trade on Tuesday after the company announced its results for the period ended on December 31, 2022. However, the stock gave up its early gains and traded flat during the second half of the session.
IRB Infra reported a 95 per cent rise on a year-on-year (YoY) basis in net profit at Rs 141.36 crore for the December 2022 quarter. Its net profit stood at Rs 72.68 crore in the same quarter previous year, the company’s exchange filing said.
Its revenue from operations increased 18 per cent to Rs 1,514.14 crore in Q3FY23 as against Rs 1,279.11 in Q3FY22. However, it declined 16 per cent YoY to Rs 801 crore during the given period from Rs 957 crore.
IRB Infrastructure Developers reported a net profit at Rs 85.31 crore with a revenue from operations at Rs 1,342.95 crore in the September 2022 quarter.
Shares of IRB Infra jumped about 2 per cent to Rs 295 on Tuesday before turning flat. The scrip had settled at Rs 290.95 on Monday. The stock has gained more than 11 per cent the last one week.
IRB Infra reported a 215 per cent increase in the net profit at Rs 589.86 crore for the nine months ended on December 31, 2022, which was Rs 186.9 crore in the year ago period. Its revenue from operations inched up by 9 per cent to Rs 4,781.66 crore for the period under review.
The company and its private InvIT entities reported a strong and steady increase in toll revenue on both yearly and monthly comparison. In January 2023, the company recorded a 36 per cent YoY increase in toll collection at Rs 374.81 crore.
Shares of IRB Infra will trade ex-split from February 21, 2023 as the company had announced February 22, 2023 as the record date for the sub-division of its equity shares in 1:10 ratio. The company had announced the stock split in January 2023.
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