IRB Infrastructure Developers' toll collection increases 3 per cent despite demonetisation

IRB Infrastructure Developers has posted average gross daily toll collection numbers for the month of December 2016. Demonetisation drive has not affected the company’s toll collection although there are several free tolls for the customers. Its toll collection stood at Rs 7.79 crore in December 2016 as against Rs 7.53 crore in October 2016, showing an increase of 3 per cent.

IRB Infrastructure Developers has 14 projects that collect toll across the country.  Out of all the tolls, Pathakot-Amritsar project, Tumkur-Chitradurga and Agra-Etawah have witnessed degrowth of 8 per cent, 4 per cent and 13 per cent, respectively, after demonetisation. However, the remaining toll projects posted positive toll collections.

On the financial front, IRB Infrastructure Developers’ revenue increased 12.31 per cent to Rs 1291 crore in Q2FY17 as compared to the same period of the previous financial year. However, the company’s net profit dropped 5 per cent to Rs 142 crore in Q2FY17 on a yearly basis.

The share price of IRB Infrastructure Developers increased 3.34 per cent on bourses in early trades and is trading at Rs 211.5 on intra-day basis.