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IRB Infra jumps as August toll collections jump 35% on year
IRB Infrastructure Developers share price jumped as much as 52 percent in intraday trade to hit the days high of Rs 24745 apiece The buying in IRB Infra stock price came after toll collections in August jumped 35 percent on year to Rs 336 crore The robust toll collection also fuelled hopes of IRB Infra reporting strong earnings in the second quarter. IRB Infra reported a multifold increase in consolidated net profit at Rs 36319 crore for the quarter ended June 30 Total consolidated income during the quarter under review rose to Rs 199540 crore as against Rs 167048 crore in the yearago period Its expenditure declined to Rs 1452 crore during the June quarter compared to Rs 152973 crore earlier. Revenue rose 18 percent to Rs 1925 crore compared to last years Rs 1626 crore Earnings before interest taxes depreciation and amortization or EBITDA a measure of a companys overall financial performance jumped over 50 percent from Rs 701 crore to Rs 1061 crore. The company expects Rs 2100 crore in toll revenues and Rs 40005000 crore in construction revenue for FY23 Tushar Kawedia Group CFO IRB Infrastructure had recently told CNBCTV18. At 1254 pm IRB Infrastructure Developers stock price was trading at Rs 24030 on BSE up 217 percent The days high came in at Rs 2474. #IRBinfra Source:- CNBCTV18
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