IRB Infrastructure Developers has received its board approval to raise funds upto Rs 1,200 crore. The company will raise the money by further issue of securities in Domestic/ International markets through various instruments including equity shares/ warrants with Non-Convertible Debentures under Qualified Institutions Placement (QIP) or Foreign Currency Convertible Bonds (FCCBs) or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs) etc. subject to compliance with related provisions of law and other permissions, sanctions, approvals as may be required.
The Company has reported net profit of Rs 17.82 crore for the quarter as compared to Net loss of Rs 3.76 crore for the quarter ended June 30, 2010. Its total Income has surged by 4905.05% at Rs 199.74 crore for the quarter ended June 30, 2011 from Rs 3.99 crore for the quarter ended June 30, 2010.
On consolidated basis, the group’s net profit from ordinary activities after tax & minority interest has increased by 14.19% at Rs 134.19 crore for the quarter as compared to Rs 117.51 crore for the quarter ended June 30, 2010. Its total income has surged by 55.43% to Rs 829.55 crore for the quarter under review from Rs 533.70 crore for the corresponding quarter of the previous year.