IRB Infrastructure’s share price traded 3% higher at ₹58.96 at 12:05 PM on the BSE. The stock opened at ₹57.70 higher than ₹57.20 at its previous close. In the last 2 days, IRB Infrastructure’s stock has gained 3.5%.
IRB Infrastructure Developers Limited has informed the BSE and NSE about the successful closing of agreements related to the Ganga Expressway Project. Following the agreements, IRB Infrastructure Trust has acquired an 80.4% stake in both the equity share capital and debentures of Meerut Budaun Expressway Limited (MBEL).
This marks a key development in the implementation of the project, as disclosed earlier in December 2024. The company has requested the exchanges to acknowledge this update.
In the second quarter of the financial year 2024-25, IRB Infrastructure Developers reported a decline in its revenue by 9.1% year-on-year, dropping to ₹158.6 crore compared to ₹174.5 crore in Q2FY24.
Despite the decrease in revenue, the company achieved a 4.3% growth in consolidated net profit, reaching ₹99.8 crore, up from ₹95.7 crore in the same quarter last year. This increase in net profit was supported by improved operating margins, despite the dip in revenue.
IRB Infrastructure Developers Ltd. is India’s largest integrated transport infrastructure developer, specialising in highways and BOT projects. With 26 projects across 12 states, the company operates 15,500 lane km and 72 toll plazas. It has a significant share in India’s TOT space and operates the country’s first Infrastructure Investment Trust (InvIT).
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Published on: Jan 1, 2025, 12:05 PM IST
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