On Monday IRB Infrastructure Developers Ltd (IRB) said its revenue from toll collection rose by 24 per cent to Rs 417.2 crore in August 2023.
Last year same month toll collection stood at Rs 336 Cr, IRB said in a statement.
Out of its 13 tolls, IRB MP Expressway in Maharashtra contributed the major share of Rs 141.1 crore to the total revenue collection, it said.
Collection was up 14 per cent on a monthly basis from Rs 365 Cr in July 2023.
Amitabh Murarka, Deputy Chief Executive Officer of IRB said, “We have added Hyderabad ORR project. We expect the toll revenue to pick up pace, in view of the forthcoming festival season along with likely commencement of toll collection on newly bagged Samakhiyali Santalpur BOT project in Gujarat.” On August 12, IRB announced making an upfront payment of Rs 7,380 crore to Hyderabad Metropolitan Development Authority (HMDA).
The statement said that Post payment, its special purpose vehicle (SPV) IRB Golconda Expressway, has commenced toll collection on Jawaharlal Nehru Outer Ring Road (ORR), popularly known as Hyderabad ORR.
On Monday at 13.10 p.m., shares were trading 2.8% up at Rs. 34.40 on NSE.
According to the company filing, total revenue decreased to Rs. 1,745.47 Cr in Q1 FY24 from Rs. 1,995.40 Cr in Q1 FY23 and for the same period, net profit decreased to 83.60 Cr from 146.80 Cr.
The first integrated infrastructure company in India to operate in the highways sector is IRB. IRB, India’s largest integrated private toll road and highway infrastructure developer, has assets worth more than Rs 70,000 crore spread over 11 states.
