IRB Infra September toll collection jumps 19% YoY; share price up 3% | News on Markets
IRB Infrastructure Developers shares in focus: Shares of IRB Infrastructure Developers Ltd (IRB) rose as much as 3.44 per cent to hit an intraday high of Rs 60.92 per share on Wednesday, October 09, 2024.
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IRB Infra and the IRB Infrastructure Trust reported a year-on-year (Y-o-Y) rise of 19.2 per cent to Rs 502 crore in September 2024, from Rs 421 crore in September 2023.
In an exchange filing, the company said, “Continuing with the robust toll collection growth in the third month of the Q2FY25, i.e., September 2024, the IRB Infrastructure Developers Ltd and IRB Infrastructure Trust have reported collective Y-o-Y toll revenue growth of 19 per cent in the month under review, i.e., Rs. 502 crore in September 2024 as against Rs 421 crore in Sept 2023.”
“Our toll revenue has demonstrated remarkable resilience, achieving a 19% Y-o-Y growth despite severe rains in some of the regions. As we look ahead to the festive season, we are optimistic about sustaining the growth, driven by increased travel and economic activities,” said Amitabh Murarka, deputy chief executive officer of IRB Infrastructure Developers Limited.
IRB Infrastructure Developers Ltd (IRB) is a leading Integrated Multi-National Transport Infrastructure Developer, specialising in the Roads & Highways sector. As the largest private toll roads and highways developer in India, IRB boasts an asset base of approximately Rs 80,000 crore across 12 states, encompassing both the parent company and two Infrastructure Investment Trusts (InvITs).
With over 25 years of experience, IRB has successfully constructed, tolled, operated, and maintained around 18,500 lane kilometres nationwide, with 15,500 lane kilometres currently under operation. The company holds a major market share of approximately 38 per cent in the Toll-Operate-Transfer (TOT) segment and a 12 per cent share in the North-South highway connectivity in India.
IRB has successfully completed 13 concessions, handing them over to the relevant nodal agencies. Currently, the IRB Group’s project portfolio includes 26 road projects, comprising 18 Build-Operate-Transfer (BOT), 4 TOT, and 4 Hybrid Annuity Model (HAM) projects.
At 9:37 AM, IRB Infra shares were trading 1.97 per cent higher at Rs 60.05 per share. In comparison, BSE Sensex was trading 0.17 per cent higher at 81,774.23 levels.
First Published: Oct 09 2024 | 9:41 AM IST
