Mumbai: The shares of Irb Infrastructure Developers plummeted around eight in the morning trade on Thursday. The IRB share price was hit as promoter and promoter group entities namely Deepali Virendra Mhaiskar and IRB Holding Private offloaded 4 per cent stake in the company, reports said.
IRB shares were trading at Rs 66.85 on NDSE at 10:48 am on May 30, 2024.
IRB Infrastructure Developers Ltd is one of India’s leading and the largest integrated and first multi-national transport infrastructure developer in roads and highways sector. It has an asset base of over Rs 80,000 crore in 12 states.
IRB Q4 Results 2024
IRB declared its Q4 Results 2024 on May 7, 2024. The company reported a 45 per cent rise in consolidated net profit to Rs 188.87 crore as compared to Rs 130.15 crore in the quarter ended March 2023.
In its regulatory filing, IRB’s total income increased to Rs 2,504.49 crore, while the total expenses surged to Rs 2,060.15 crore as against Rs 1,456.65 crore a year ago. The consolidated net profit stood at Rs 605.81 crore in fiscal 2023-24.
IRB Infra reports Q4FY24 PAT at Rs 189 core. The consolidated income stood at Rs 2,504 crore. It grew 45 per cent and 47 per cent respectively. The company said it is a promising start of FY25 for IRB Infra and the IRB Infrastructure Trust – April 2024 as aggregate Toll Revenue of both entities increased 29 per cent Y-o-Y. It was Rs 503 crore in April 2024 vs Rs 388 crore in April 2023.
The company also announced dividend of Rs 181 for FY24. “FY24 was an astounding year. We not only received three prestigious TOT (Toll Operate Transfer) awards but also tied up finances, made an upfront payment of concession fees to the respective authorities and commenced tolling on these projects well within the set timelines,” Virendra D Mhaiskar, Chairman & Managing Director of IRB Infrastructure Developers, said.
IRB Infrastructure Developers shares were down around eight per cent on May 30, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
