IRB Infrastructure Developers register 11% growth in consolidated net for Q2FY12

11 Nov 2011

IRB Infrastructure Developers has reported results for the quarter ended September 30, 2011.

The company’s net profit for the quarter has declined by 31.95% at Rs 10.65 crore as compared to Rs 15.65 crore for quarter ended September 30, 2010. Company’s total income has zoomed 181.10% to Rs 156.01 crore for the quarter ended September 30, 2011 from Rs 55.50 crore for the corresponding quarter of the previous year.

On consolidated basis, the Group’s net profit after tax and minority interest for the quarter has registered growth of 11.06% at Rs 110.06 crore as compared to Rs 99.10 crore for the corresponding quarter of the previous year. Group’s total income for Q2FY12 has increased by 53.64% at Rs 765.95 crore as compared to Rs 498.53 crore for the Q2FY11.

However, profit from operations before interest and other income stood at Rs 181.94 crore for the three months ending September 30, 2010. Its tax burden too jumped from Rs 19.03 crore to Rs 36.68 Y-o-Y. The Company has refinanced its existing debt of Rs 700 crore via the European Central Bank.

IRB also reported that its order book remains healthy at Rs 11,200 crore. The company further reported that the Ahmedabad-Vadodara construction is likely to start by April next year, while the Kolhapur project is expected to achieve COD in the next quarter of FY12. In terms of segment wise performance, real estate posted a loss of Rs 24.22 lakhs while road infrastructure project segment profits marginally rose from Rs. 112.77 crore to Rs 117.86 crore.

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