IRB Infrastructure Developers Ltd.'s net profit declined 63% in the first quarter of fiscal 2024.
The construction firm's profit tumbled to Rs 134 crore for the quarter ended June, in comparison with Rs 363 crore in the same quarter last year, according to an exchange filing on Monday.
IRB Infrastructure Q1 FY24 Highlights (Consolidated, YoY)
Revenue from operations down 15% to Rs 1,634 crore from Rs 1,924.5 crore.
Ebitda fell 29% to Rs 777 crore from Rs 1,087.5 crore.
Ebitda margin at 48% vs. 57%.
Net profit declined 63% to Rs 134 crore from Rs 363 crore.
The company witnessed a growth of 18% in aggregate toll collection in the assets under the IRB Infra portfolio and the assets under the IRB Infrastructure Trust.
The toll collection was Rs 1,183 crore as against Rs 1,000 crore in the corresponding quarter of FY23.
Shares of IRB Infrastructure Developers closed 0.6% lower at Rs 26 apiece on the BSE, as compared with a 0.5% rise in the benchmark Sensex.
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