IRB Infra surges 4 per cent after posting strong Q1FY18 numbers
DSIJ Intelligence / 24 Jul 2017
IRB Infrastructure Developers Ltd. (IRB) reported its results for the quarter ended June 30, 2017 today.
IRB Infrastructure Developers Ltd. (IRB) reported its results for the quarter ended June 30, 2017 today.
The company's total sales for Q1FY18 came in at Rs 1816.87 crore, which represents a 11.66 per cent sequential increase and 19.74 per cent YoY increase.
Its operating profit (EBIT) for the quarter amounted to Rs 636.24 crore and its EBIT margin stood at 35.02 per cent.
The company reported PAT of Rs 237.85 crore, which represents a sequential QoQ increase of 14.79 per cent and a YoY increase of 30.82 per cent.
On May 18, 2017, the company launched and listed India’s first ever InvIT IPO raising Rs 5035 crores. It received Rs 1700 crore as consideration from InvIT and holds 15% of unit capital in InvIT. Due to this InvIT, the company’s debt-to-equity was reduced substantially to ~1.8:1 from 3:1.
Post the impressive quarterly numbers, the IRB stock rose as much as ~4.6 per cent to touch the day's high of Rs 225.6. However, it later cooled off and closed for the day at Rs. 215.80, up by 1 per cent.
IRB is one of the largest private roads and highways infrastructure developers in India. Presently, the company has 7 operational projects under BOT contracts post InvIT; 6 projects under O & M contracts and 8 projects under various stages of construction.