IRB Infrastructure Developers on Thursday reported a 11.69 per cent dip in consolidated net profit at Rs 106.81 crore for the quarter ended September, 2013 on account of higher expenses.
The company had clocked a net profit of Rs 120.96 crore for the corresponding quarter a year ago, it said.
Total income rose 11.09 per cent to Rs 939.13 crore during the quarter ended September 2013, from Rs 845.33 in the year-ago period.
Total expenses saw an 11.28 per cent increase at Rs 641.27 crore, as against Rs 576.23 crore last year.
The cost of materials rose by 13 per cent to Rs 110.17 crore from 97.76 crore in the second quarter of FY13. Finance cost of the group also rose to Rs 176.12 crore, from Rs 147.02 crore a year ago.
IRB Infrastructure is one of the largest road builders on BOT (build, operate, transfer) basis.
"During the quarter, the Group has paid/accrued Rs 171.59 crore as revenue share/premium to National Highways Authority of India out of its toll collection in accordance with the concession agreements with NHAI," it said.
Shares in IRB Infrastructure, on Thursday, ended at Rs 88.45 apiece on the BSE, up 6.5 per cent from the previous close.
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