IRB Infra records 26% growth in aggregate toll collection for December 2023; shares hit all-time high
At around 10:50 a.m., shares of the civil construction company traded 7.76 per cent or Rs 3.27, higher on the BSE at Rs 45.42 apiece. The market capitalisation of the company at around the same time stood at Rs 27,429.14 crore.
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IRB Infrastructure Developers shares on Tuesday (January 9) scaled an all-time high at Rs 46.7 apiece as market participants cheered a 26 per cent growth in the aggregate toll collection for December 2023.
At around 10:50 a.m., shares of the civil construction company traded 7.76 per cent or Rs 3.27, higher on the BSE at Rs 45.42 apiece. The market capitalisation of the company at around the same time stood at Rs 27,429.14 crore.
The Mumbai-headquartered company said on Monday after market hours that in December 2023, the toll collected by the firm stood at Rs 488 crore against Rs 388 crore in December 2022.
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"IRB Infrastructure Developers Limited and its associate IRB Infrastructure Trust, the largest infrastructure investment trust in India’s highways sector, have collectively reported toll collection growth of 26 per cent in December 2023 over the corresponding month of FY23, i.e., December 2022," the filing read.
The toll collected from IRB MP Expressway Pvt Limited (Mumbai Pune Expressway & Old Mumbai Pune Highway NH4) stood at Rs 158.4 crore, toll collected from IRB Ahmedabad Vadodara Super Express Tollway Private Limited (Ahmedabad Vadodara Expressway NE1 and Highway NH48) was at Rs 66 crore.
The company further stated that the Samakhiyali Santalpur BOT project in Gujarat State's toll collection will start on December 28, 2023.
"Since the second half of FY is always better from a toll collection perspective, we expect this growth to continue for the remaining quarter of FY24 too, especially after the Samakhiyali Santalpur BOT project in the State of Gujarat, which started toll collection on December 28, 2023, and will have full-month toll revenue in the remaining months of FY24,” said Amitabh Murarka, Dy CEO, IRB Infrastructure Developers.
IRB Infra share price: Past performance
In a year, shares of IRB Infra have gained over 48 per cent as against the Nifty 50's rise of over 19 per cent.
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