IRB Infrastructure toll revenue grows 18% to Rs 1,183 cr in Apr-Jun quarter

Posted on by

IRB Infrastructure Developers Ltd (IRB) on Monday said its revenue from fee collection grew by 18 per cent to Rs.1,183 crore in the first quarter of this financial year.

The IRB said in a statement that fee collection was Rs 1,000 crore in the previous April-June quarter of 2022-23.

“The IRB and its InvIT, specifically the IRB Infrastructure Trust, reported revenue growth of 16 percent in June 2023. Overall revenue growth for the first quarter of FY24 for both entities was 18 percent compared to fee revenue in the corresponding quarter of FY23 . ,” He Said.

In June 2023, the company recorded a toll revenue of Rs. 383 crore, up from Rs. 329 crore in June 2022.

Amitabh Morarka, Executive Vice President, IRB Infrastructure Developers Limited, said, “Q1 FY24 looks largely positive as an upward trend in total revenue compared to the corresponding quarter last FY24. We expect similar momentum for the rest of FY24.”

IRB has a proven track record of building, acquiring, operating and maintaining approximately 17,200 kms across India. The company is India’s leading company and one of the largest integrated infrastructure companies in the highway sector.

(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)

First published: July 10, 2023 | 1:02 p.m ist