INSUBCONTINENT EXCLUSIVE:
Authors: JordanIRB Infra's InvIT was listed in 2018 fiscal and seven projects were transferred to it
Laying
a strong base for the next financial year, IRB Infrastructure announced upbeat results for the fourth quarter of fiscal 2018, posting a
double digit percentage rise in its net profit to Rs 240 crore
The profit before tax rose 21% quarter on quarter to touch Rs 384 crore
At the same time, the total income for the fourth quarter sequentially rose to Rs 1,432 crore from Rs 1,342 crore in the third quarter of
In this fiscal, IRB Infrastructure listed the first infrastructure investment trust (InvIT) and transferred seven projects to it, the
Mhaiskar, chairman and managing director,IRB Infrastructure Developers Ltd said, "Not only Q4, but the whole of fiscal 18 was stupendous for
us at IRB Infra, as it witnessed return of traffic growth, post demonetization and GST, across projects resulting into robust revenue
We successfully listed IRB InvIT and transferred seven projects to it
On construction activities front, Rajasthan projects received appointed dates to commencing tolling and construction simultaneously after
achieving financial closure
We also commissioned toll collection on two projects post construction and above all added four new projects to the portfolio, 3 under
Hybrid Annuity and one under BOT model
We enter FY19 with strong momentum and more efficient Balance Sheet."IRB Infrastucture fourth quarter results
The total income of IRB Infrastucture fell from Rs 1,656 crore in the fourth quarter of 2017 to Rs 1,432 crore in the fourth quarter of
2018.4.The annual income of IRB Infrastucture for the entire finanical year also fell from Rs 5,969 crore to Rs 5,863 crore this fiscal.5
