- Announces Q3 FY18 results; Net Profit up 13% YoY
- Total income for Q3FY18 is 1,342 Cr;
- Wins prestigious ‘FinanceAsia Achievement Award 2017 – Best India Deal’ for launching and listing of India’s first InvIT IPO and raising ~Rs.5000 Cr
Mumbai, February 7, 2018: IRB Infrastructure Developers Ltd. (IRB); India’s leading and one of the largest highways infrastructure developers, has today announced its unaudited financial results for the Q3 FY18 and posted a Net Profit of Rs. 207 Cr for the quarter; 13% up as against Q3 FY17, despite a transfer of seven BOT projects to IRB InvIT during the year. The Company has reported a marginal decline in total income of 7% YoY with these seven assets moving to InvIT.
The company also declared second interim dividend of Rs. 2.50 per share for FY18. Earlier, the Company had declared Rs.2.50 per share as an interim dividend on 24th July 2017.
The Company has been conferred on the prestigious ‘FinanceAsia Achievement Award 2017 – Best India Deal’ Award by Hong Kong based FinanceAsia, a globally renowned publication, for successfully launching and listing India’s first InvIT IPO and raising ~Rs.5000 Cr.
The highlights of Financial Performance are:
Q3 FY18 v/s. Q3 FY17
(In Crs. Rs.)
In Crs. Rs.)
|% Increase /
|2||Profit before tax||318||254||25%|
Nine months ended Dec 18 v/s. Nine months ended Dec 17
|Sr. No.||Particulars||Nine months FY18
(In Crs. Rs.)
|Nine Months FY17
(In Crs. Rs.)
|% Increase /
|2||Profit before tax||1,079||686||57%|
While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “Continuing with the growth trend witnessed in the month of September last quarter, Q3 FY18 marked a return to anticipated robust uptick in traffic movement across all our projects, and with EPC progressing in line with expectation, we are all set for a stupendous Q4 as well. What is most satisfying is the performance of our new projects in the state of Rajasthan, which reinforces and underpins our return expectations as well as outlook for forthcoming quarters.”
Further, while commenting on getting the FinanceAsia Achievement Award, he added, “We are extremely grateful to the FinanceAsia for recognizing our endeavours and thank all our investors for overwhelmingly supporting India’s first InvIT venture.”
The highlights of quarterly performance are:
- Achieved Financial Closure for Chittorgarh – Gulabpura project by arranging finances of Rs.1400 Crs and started tolling as well as construction for the project on 4th Nov 2017.
- Total EPC Order Book stands at approx. Rs. 7,400 Cr, including Rs. 6,750 Cr of Construction order book, at the end of Q3 FY18.
- Robust growth witnessed across BOT Projects – including Ahmedabad Vadodara and Agra Etawah, and impressive traffic pick up for Rajasthan projects, led to 24% QoQ increase in Toll revenues, despite transfer of Pathankot Amritsar project to IRB InvIT.
- Overall EPS growth of 13% YoY achieved, even with transfer of 7 BOT Assets during the year to IRB InvIT.
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 7 operational projects under BOT space post InvIT; 7 projects under O & M contracts and 7 projects under various stages of construction.
IRB, in the 20th year of its journey towards excellence, has achieved several unmatchable milestones, which includes completion of around 12,000 lanes Kms, contributing near 20% share in India’s prestigious Golden Quadrilateral project; maintaining assets of more than Rs.35000 Crs, under BOT as well as O&M space, which is the largest by any private highways infrastructure developers in India.
IRB Infrastructure Developers Ltd. is India’s first Infrastructure developer Company to have privilege of successfully launching and listing of India’s first ever InvIT IPO.
For further details, please contact:
- Vivek Devasthali, Head – Corporate Communications, 99300 80099, firstname.lastname@example.org
- Shahab Shaikh, Concept PR, 93208 97525, email@example.com