IRB Toll Revenue for December 2024 Up 19%

IRB Infrastructure Developers Ltd and IRB Infrastructure Trust reported a 19% year-on-year (YoY) growth in toll revenue for December 2024. The total collections reached ₹580 crore, up from ₹488 crore in December 2023. This was seen across various projects in IRB’s portfolio, which spans 12 states across India​​.

Breakdown of Project Contributions

The Mumbai-Pune Expressway remained a major contributor, bringing in ₹163.4 crore in December 2024, compared to ₹158.4 crore in December 2023. Similarly, the Ahmedabad-Vadodara Super Express Tollway saw collections rise to ₹70.7 crore from ₹66 crore in the previous year. The IRB Golconda Expressway showed strong performance as well, generating ₹71.3 crore, compared to ₹62.7 crore in December 2023​​.

Quarterly Financials

For the second quarter of FY25, IRB Infrastructure Developers reported a revenue of ₹158.6 crore, showcasing a 9.1% decline from ₹174.5 crore in the same period last year. Despite this dip, the consolidated net profit rose by 4.3% to ₹99.8 crore, up from ₹95.7 crore in Q2 FY24. Improved operational efficiencies contributed to this profitability​.

Operations Amid Revenue Dip

The company’s EBITDA for Q2 FY25 stood at ₹76.6 crore, down slightly from ₹79.5 crore in Q2 FY24. However, the EBITDA margin improved to 48.3%, up from 45.6% in the corresponding period last year. These efficiency gains helped mitigate the impact of declining revenues​.

Market Watch

As of 1:24 PM on January 10, 2025, IRB Infrastructure Developers Ltd shares were trading at ₹53.68, down ₹1.83 or 3.30% for the day, reflecting a 21.07% decline over the past six months but a 17.21% gain over the past year.

With the announcement of the toll revenue growth, the company’s stock is likely to remain under investor scrutiny in the coming days​. IRB’s toll collection figures bring out the ongoing economic activity in the country, underpinned by increased vehicular traffic across its projects. 

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