IL&FS Transportation Networks shines on acquisition of equity stake
DSIJ Intelligence / 29 Jun 2016
IL&FS Transportation Networks acquires 1.02 per cent stake in Noida Toll Bridge. The company has acquired equity stake at Rs 23.5 per share for total consideration of Rs 4.46 crore. It is consolidating investment in road assets, Infrastructure, Leasing and Financial Services. After the acquisition Toll has increased from 25.35 per cent to 26.37 per cent.
IL&FS Transportation Networks acquires 1.02 per cent stake in Noida Toll Bridge. The company has acquired equity stake at Rs 23.5 per share for total consideration of Rs 4.46 crore. It is consolidating investment in road assets, Infrastructure, Leasing and Financial Services. After the acquisition Toll has increased from 25.35 per cent to 26.37 per cent.
On financial front, IL&FS Transportation Networks revenue has decreased by 23.4 per cent to Rs 2132 crore in FY16 as compared to previous fiscal year. The company has posted negative EBITDA of Rs 205 crore in FY16 against EBITDA of Rs 198 crore in FY15. Its net loss has widened to Rs 326 crore in FY16 from net loss of Rs 11 crore in FY15.
The share price of IL&FS Transportation Networks has increased by 1.84 per cent on bourses in early trades; and is trading at Rs 74.25 on an intraday basis.
IL&FS Transportation Networks is a surface transportation infrastructure company. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualisation through commissioning to operations and maintenance under public to private partnership on build-operate-transfer (BOT) basis.
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