IRB Infra toll revenue grows 35% to ₹517 crore in June, shares rise over 2%

The highway construction company reported a healthy double-digit increase of 35% in gross toll collection across its subsidiaries and Joint Venture (JV) entities at ₹517.2 crore in June 2024, from ₹383.3 crore in the same month last year, the company informed the stock exchanges in a filing on July 10.

Following the June 2024 month’s toll collections by IRB Infrastructure Developers Limited and IRB Infrastructure Trust, the total toll revenue for Q1FY25 increased 31.5% year-on-year to ₹1,556 crore compared to the same quarter a year ago. In Q1FY24, IRB Infra and its constituents had reported toll revenue of ₹1,183 crore in Q1FY24.

“We have experienced a strong start to the new financial year FY25, marked by robust growth in Q1FY25. The recent implementation of the tariff revision will further improve the collection, and we anticipate this positive trend to continue in the forthcoming quarters of FY25,” stated the Deputy CEO of IRB Infrastructure Developers, Amitabh Murarka on July 10, 2024.

IRB Infrastructure Developers’ wholly-owned subsidiaries include IRB MP Expressway Pvt Ltd and IRB Ahmedabad Vadodara Super Express Tollway Private Ltd., while it has 15 joint venture entities under IRB Infrastructure Trust.

Shares of IRB Infrastructure Developers Ltd gained as much as 2.58% to an intraday high of ₹69.77 per piece on the NSE. However, the stock pared early gains to close at ₹67.99 apiece, down 0.29%.

IRB Infrastructure Developers’ shares have gained 66% so far this year, and over 161% in the last one year.