IRB Infrastructure Developers Ltd. (IRB); India’s leading and one of the largest highways infrastructure developers, announced its unaudited financial results for the second quarter of FY18.
The Company registered Net Profit of Rs. 235 Crs in Q2; and Rs. 473 Crs in the first half of FY 18.
Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “Q2 and first half performance is encouraging as it set robust pace for coming quarters and involved major developments. We tied up Rs. 1,461 Crores Project Finance for Udaipur – Gujarat Border Project; started tolling on two new projects; successfully transferred Pathankot Amritsar project to IRB InvIT and got two notches rating upgrade to A+ which likely to reduce finance cost.”
He further added, “We are out of GST led slowdown in traffic and, since September, have been witnessing promising growth across projects. We have entered second half with lot more gusto and look forward to large opportunities unfolding with latest Government initiatives”.