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Toll road operating company IRB Infrastructure Developers has posted a 14 per cent rise in net profit at Rs 134 crore for the quarter ended June 30, 2011, against Rs 117 crore logged in the same period last year.
Income rose 55 per cent to Rs 830 crore (Rs 534 crore). Construction revenue for the quarter increased to Rs 572 crore, up 84 per cent from Rs 311 crore. Toll revenue was up 14 per cent at Rs 229 crore ( Rs 201 crore).
IRB's order book of over Rs 11,000 crore comprises build-operate and transfer projects.
Mr Virendra D. Mhaiskar, Chairman and Managing Director, said: “Having six projects under construction, execution is the key area of focus now. We are confident of maintaining our margins because of integrated approach towards project execution. Currently, we are qualified to bid for Rs 41,000-crore worth of projects and we will bid on the basis of their viability.”
The IRB Board passed resolutions to raise up to Rs 1,200 crore by issue of securities in domestic and international markets through instruments, including equity shares and warrants with non-convertible debentures under qualified institutions placement or foreign currency convertible bonds or American depository receipts or global depository receipts.
On Wednesday, IRB stock on the BSE was 0.59 per cent up at Rs 186.90.
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