IRB Infrastructure posts Net Profit Rs. 219 Crs, Total Income Rs. 1,835 Crs

Q3FY19 Results: IRB Infrastructure posts Net Profit Rs. 219 Crs; Total Income Rs. 1,835 Crs

• Net Profit up 6%; Total Income up 37% against Q3FY18

Mumbai, February 4, 2019: IRB Infrastructure Developers Ltd. (IRB Infra) has posted Net Profit of Rs. 219 Crs for the 3^rd Quarter ended 31^st December 2018; thus registering growth of 6% as against the corresponding quarter of FY18. 

The Company has also posted Total Income of Rs. 1,835 Crs for Q3FY19, as against the Total Income of Rs. 1,342 Crs in Q3FY18; thus registering a growth of 37%.

IRB Infra announced its unaudited financial results for Q3FY19 at the Board Meeting held in Mumbai today.  

The highlights of Financial Performance are:

Q3 FY19 v/s. Q3 FY18:                    

9M FY19 v/s. 9M FY18                     

^# Total Income for 9M FY19 is impacted due to 8 days of transporters strike.

* Excluding extraordinary items of Rs. 127 crores for 9M FY18.

While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We are happy to report growth for yet another quarter aided by slight pick-up in traffic and continued execution of Projects on hand. We achieved Financial Closure for our Gujarat project during the quarter and will start construction shortly. Q4FY19 is expected to be even stronger with continued traffic momentum and as we near completion for some of our projects”

The highlights of quarterly performance are:

• Achieved Financial Closure for the 3^rd HAM Project, i.e., Vadodara – Kim stretch of Vadodara – Mumbai Expressway project by arranging finances of Rs. 981 Crs. To update, the Company has received Appointed Date from NHAI, which would now facilitate commencement of construction on the project. 

• Total Order Book stands at approx. Rs. 12,150 Crs at the end of Q3 FY19. 

• Of the four projects bagged last year, appointed date has been received for one while the same is awaited for two projects and discussions on Financial Closure for fourth project are at advanced level.

• Achieved CoD for Ahmedabad Vadodara project and accordingly tariffs increased for NH8.

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is leading and one of the largest private roads and highways infrastructure developing Companies in India.    

The Company, at present, is having 24 projects, out of which, 7 projects have been operational under BOT space; 7 projects are under O & M contracts for IRB InvIT and 7 projects are under various stages of construction. The Company had 3 projects under Hybrid Annuity Model.  

The Company’s portfolio includes completion of 12,800 lanes Kms, comprising near 20% share in India’s prestigious Golden Quadrilateral project; maintaining assets of more than Rs. 35,000 Crs, under BOT as well as O&M space, which is the largest by any private highways infrastructure developers in India.

IRB Infra, in its journey of more than two decades towards excellence and creating footprints of across the Nation, irrespective of geographical areas, has achieved several unmatchable milestones, like operating India’s first ever BOT project of Bhivandi Bypass in Maharashtra; operating India’s first expressway project, i.e., Mumbai-Pune Expressway; constructing Ahmedabad Expressway, etc. IRB Infra has also been instrumental in successful launching and listing of India’s first Infrastructure Investment Trust, i.e., InvIT. 

For further details, please contact:

• Vivek Devasthali, Head – Corporate Communications, 99300 80099, vivek.devasthali@irb.co.in