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IRB Infra's July Toll Collection Rises 37%, from ₹499 Cr to ₹365 Cr

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Synopsis:

IRB Infrastructure Developers and IRB Infrastructure Trust achieved a 37% year-on-year toll collection growth in July 2024, totaling ₹499 crore, compared to ₹365 crore in July 2023. This strong performance is primarily driven by new additions and favourable economic conditions.

IRB Infra News Today

After a strong performance in Q1FY25, IRB Infrastructure Developers Ltd and IRB Infrastructure Trust have continued their growth momentum into Q2FY25, recording a significant increase in toll collections for July 2024. As a result, the IRB Infra share price will remain in focus today.

Impressive Toll Collection Growth

In July 2024, IRB Infrastructure reported a 37% year-on-year (YoY) increase in toll collections, amounting to ₹499 crore, compared to ₹365 crore in July 2023. This impressive growth follows a 32% YoY increase in Q1FY25, demonstrating the company's consistent upward trajectory.

Shri Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers Limited, commented on the results, stating that the second quarter began positively, with a 37% increase in toll collection compared to the same period last year. New additions to the portfolio also contributed well.

With a normal monsoon forecast, the company expects continued strong traction in toll collection going forward.

Project-Specific Toll Collection Performance

The strong performance in July 2024 can be attributed to several key projects, including the Mumbai Pune Expressway, Ahmedabad Vadodara Expressway, and Hyderabad Outer Ring Road. The Hyderabad Outer Ring Road contributed ₹63.3 crore, a new addition compared to the previous year.

Other projects such as the Mumbai Pune Expressway, Chittorgarh to Gulabpura NH79, and Udaipur to Shamlaji NH48 also saw increases in toll collection.

IRB Infra Stock Performance

On the day of announcement, IRB Infra's share price closed at ₹62.94, marking a gain of ₹2.46 (4.07%) on the NSE. Year-to-date, the stock has delivered a remarkable return of 50.39%. Over the past 12 months, it has more than doubled investors' money, providing a substantial return of 145.38%.

Key Takeaways

With a total toll collection of ₹499 crore in July 2024, compared to ₹365 crore in July 2023, IRB Infrastructure Developers Ltd and IRB Infrastructure Trust have demonstrated strong growth and operational efficiency.

This momentum is expected to continue, driven by strategic project additions and favourable economic conditions, positioning the company for sustained success in the coming quarters.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing. 

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory. 

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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