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by IANS |
Mumbai, May 19 (IANS) Highway construction firm IRB Infrastructure Developers Limited on Monday reported a sharp decline of 96.43 per cent in its net profit after tax (PAT) to Rs 214.7 crore for the fourth quarter (Q4) of FY25, compared to Rs 6,026.1 crore in the previous quarter (Q3 FY25).
On the expenses side, the company saw a quarter-on-quarter (QoQ) rise of 7.23 per cent in total expenses, which stood at Rs 1,895.3 crore in Q4 compared to Rs 1,767.6 crore in Q3, according to its stock exchange filing.
The cost of materials consumed surged by 78.28 per cent, while other expenses went up by 26.14 per cent during the same period.
Additionally, there were steep fall in profit before tax -- down 94.74 per cent from Rs 6,126.8 crore in Q3 to Rs 322.5 crore in Q4.
The Mumbai-based construction firm’s revenue from operations rose by 6.11 per cent in Q4 to Rs 2,149.2 crore, up from Rs 2,025.4 crore in Q3.
The company’s total income also increased by 6.10 per cent to Rs 2,217.8 crore in Q4 from Rs 2,090.3 crore in the previous quarter.
However, compared to the same quarter last year, the total income was down by 11.44 per cent.
Despite the drop in bottom line, IRB’s Chairman and Managing Director, Virendra D. Mhaiskar, expressed optimism.
He highlighted a 23 per cent year-on-year (YoY) growth in toll revenue, which he said outpaced the national average of 12.5 per cent.
He noted that while the first half of the year was impacted by general elections, the second half witnessed strong growth.
“The company also began operations on two new TOT (Toll-Operate-Transfer) projects that have so far exceeded expectations,” he mentioned.
Mhaiskar added that with the government’s continued focus on Public-Private Partnership (PPP) projects in the Union Budget, IRB remains confident about stronger momentum in upcoming BOT (Build-Operate-Transfer) and TOT project bids.
IRB Infrastructure is an integrated multi-national transport infrastructure developer in the roads and highways segment.
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