{"id":10956,"date":"2017-07-24T10:35:40","date_gmt":"2017-07-24T10:35:40","guid":{"rendered":"http:\/\/www.irb.co.in\/home\/?p=10956"},"modified":"2017-09-12T05:25:05","modified_gmt":"2017-09-12T05:25:05","slug":"irb-posts-net-profit-rs-238-crs-for-q1-fy-2018-and-declares-interim-dividend-of-rs-rs-2-50-per-share","status":"publish","type":"post","link":"https:\/\/www.irb.co.in\/home\/2017\/07\/24\/irb-posts-net-profit-rs-238-crs-for-q1-fy-2018-and-declares-interim-dividend-of-rs-rs-2-50-per-share\/","title":{"rendered":"IRB Posts Net Profit Rs. 238 Crs for Q1 \u2013 FY 2018; and declares Interim Dividend of Rs. Rs. 2.50 Per Share"},"content":{"rendered":"<ul>\n<li><strong>Board approves offering of Pathankot \u2013 Amritsar project to IRB InvIT Fund.<\/strong><strong><br \/>\n<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Net Profit ups 31% to Rs. 238 Crs, as against Rs. 182 Crs in Q1 &#8211; FY17<\/strong><strong><br \/>\n<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Total Income ups 21% to Rs. 1,870 Crs against Rs. 1,548 Crs in Q1 &#8211; FY17 <\/strong><\/li>\n<\/ul>\n<p><strong>Mumbai, July 24, 2017:<\/strong> IRB Infrastructure Developers Ltd. (IRB); India\u2019s leading and one of the largest highways infrastructure developers, today announced its unaudited financial results for the first quarter of FY 2017-18, ended on 30<sup>th<\/sup> June 2017.<\/p>\n<p><strong>The highlights of Financial Performance are: <\/strong><\/p>\n<p><strong><u>Q1 FY 2018 v\/s. Q1 FY 2017<\/u><\/strong><strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/p>\n<ul>\n<li>The Company declared Interim Dividend of Rs.2.50 per share for FY 2018<\/li>\n<\/ul>\n<table>\n<tbody>\n<tr>\n<td width=\"86\"><strong>Sr. No.<\/strong><\/td>\n<td width=\"125\"><strong>Particulars<\/strong><\/td>\n<td width=\"96\"><strong>Q1 FY18<\/strong><\/td>\n<td width=\"102\"><strong>Q1 FY17<\/strong><\/td>\n<td width=\"104\"><strong>% Increase \/ <\/strong><\/p>\n<p><strong>(Decrease)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"86\">1<\/td>\n<td width=\"125\">Total Income<\/td>\n<td width=\"96\">Rs. 1,870 Crores<\/td>\n<td width=\"102\">Rs.1,548.00 Crores<\/p>\n<p>&nbsp;<\/td>\n<td width=\"104\">21%<\/td>\n<\/tr>\n<tr>\n<td width=\"86\">2<\/td>\n<td width=\"125\">Net Profit<\/td>\n<td width=\"96\">Rs. 238 Crores<\/td>\n<td width=\"102\">Rs.182.00 Crores<\/p>\n<p>&nbsp;<\/td>\n<td width=\"104\">31%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<ul>\n<li>The Company declared Interim Dividend of Rs.2.50 per share for FY 2018<\/li>\n<\/ul>\n<p>While commenting on the performance, Mr. Virendra D. Mhaiskar, Chairman &amp; Managing Director, IRB Infrastructure Developers Ltd. said, <strong><em>\u201cThe quarterly results are portraying our capabilities and efficiency levels in managing Large Projects portfolios. We would continue to perform well and grow in the best interests of our Stakeholders.\u201d <\/em><\/strong><\/p>\n<p>Further, the Board of Directors today approved an offer for sale of Company\u2019s 100% equity stake in IRB Pathankot Amritsar Toll Road Private Limited, an SPV that manages the Pathankot \u2013 Amritsar project in Northern India, to the IRB InvIT Fund.<\/p>\n<p>While commenting on this development, Mr. Virendra D. Mhaiskar, Chairman &amp; Managing Director, IRB Infrastructure Developers Ltd. said, <strong><em>\u201cThe offer of sale is as per the Deed of Right of First Offer and Right of First Refusal executed by the Company with the Fund on May 9, 2017 and will be subject to approvals of concern authorities. If everything goes well, we expect to complete the transaction probably by end of next quarter of FY 2018.\u201d<\/em><\/strong><\/p>\n<p><strong>The highlights of quarterly performance are:<\/strong><\/p>\n<ul>\n<li>Successfully launched and listed India\u2019s first ever InvIT IPO on 18<sup>th<\/sup> May 2017 that raised Rs.5035 Crores, post overwhelming response of 8.7 times from Investors.<\/li>\n<\/ul>\n<ul>\n<li>Transferred 6 projects to the IRB InvIT; however, continues with the responsibility of Maintenance Management of these projects through its wholly owned subsidiary.<\/li>\n<\/ul>\n<ul>\n<li>Received Rs. 1700 Crore as consideration from InvIT; holds 15% of Unit Capital in InvIT.<\/li>\n<\/ul>\n<ul>\n<li>Debt Equity Ratio is reduced substantially from 3:1 to approx. 1.8:1; thus to lead credit rating upgrade for the Company.<\/li>\n<\/ul>\n<ul>\n<li>Construction Order Book stands at approx. Rs. 8900 Crores at the end of Q1 &#8211; FY 2018<\/li>\n<\/ul>\n<p><strong><u>About IRB Infrastructure Developers Ltd:<\/u><\/strong><\/p>\n<p>IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India.<\/p>\n<p>The Company at present is having 7operational projects under BOT space post InvIT; 6 projects under O &amp; M contracts and 8 projects under various stages of construction.<\/p>\n<p>IRB, in the 10<sup>th<\/sup> year of its journey towards excellence post listing, has achieved an unmatchable milestone of around 12,000 lanes Kms, along with near 20% share in India\u2019s prestigious Golden Quadrilateral project; which is the largest by any private highways infrastructure developers in India.<\/p>\n<p>IRB Infrastructure Developers Ltd. is India\u2019s first Infrastructure developer Company to have privilege of successfully launching and listing of India\u2019s first ever InvIT IPO.<\/p>\n<p><strong>\u00a0For further details, please contact:<\/strong><\/p>\n<ul>\n<li><strong>Vivek Devasthali,<\/strong> Head \u2013 Corporate Communications, 99300 80099, <a href=\"mailto:vivek.devasthali@irb.co.in\">devasthali@irb.co.in<\/a><\/li>\n<li><strong>Shahab Shaikh,<\/strong> Concept PR, 93208 97525, <a href=\"mailto:shahab@conceptpr.com\">shahab@conceptpr.com<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Board approves offering of Pathankot \u2013 Amritsar project to IRB InvIT Fund. Net Profit ups 31% to Rs. 238 Crs, as against Rs. 182 Crs in Q1 &#8211; FY17 Total Income ups 21% to Rs. 1,870 Crs against Rs. 1,548 Crs in Q1 &#8211; FY17 Mumbai, July 24, 2017: IRB Infrastructure Developers Ltd. (IRB); India\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-10956","post","type-post","status-publish","format-standard","hentry","category-media-release"],"_links":{"self":[{"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/posts\/10956"}],"collection":[{"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/comments?post=10956"}],"version-history":[{"count":0,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/posts\/10956\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/media?parent=10956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/categories?post=10956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/tags?post=10956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}