The shares of this infrastructure development and construction company gained up to 5 percent after the company’s net profit and revenue increased by 12 percent and 94 percent QoQ, respectively in the third quarter.
With a market capitalization of Rs 39,664.15 crore, the shares of IRB Infrastructure Developers Ltd were trading at Rs 65.84 per share, decreasing around 0.38 percent as compared to the previous closing price of Rs 66.09 apiece.
Looking into the company’s Performance, IRB Infrastructure Developers Ltd’s revenue increased by 12 percent on a quarter-on-quarter basis from Rs.1,745 crores in Q2FY24 to Rs. 1,969 crores in Q3 FY24. Further, revenue increased by 30 percent year on year from Rs. 1,514 crore in Q3FY23 to Rs. 1,969 crore in Q3FY24.
IRB Infrastructure Developers Ltd’s net profit increased by 94 percent on a quarter-on-quarter basis from Rs.96 crore in Q2FY24 to Rs. 187 crore in Q3FY24. Further, net profit increased by 32 percent yearly from Rs 141 crore in Q3FY23 to Rs.187 crore in Q3FY24.
Additionally, The company has declared a second Interim dividend of Re. 0.10 per equity share of the face value of Rs. 1 each (10% of the face value of the share) for the financial year 2023-24.
The Company’s entire order book as of June 30, 2023, is Rs 33,708 crores, which includes the Hyderabad ORR project. The EPC order book is close to Rs 8,423 crores, offering significant income visibility for the construction segment over the next 2-3 years.
The business was awarded two projects by NHAI in Gujarat, including an upgradation project for six lanes of NH27 from Samakhiyali to Santalpur with a total cost of Rs 2,132 crores and a concession term of 20 years on a BOT basis.
IRB Infrastructure Developers Ltd is an Indian infrastructure development and construction business with substantial expertise in the road and highway industry. It is engaged in various business areas of the infrastructure industry, including road maintenance and building.
Written by:- Abhishek Singh
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