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IRB Infraposts Q2FY22 net profitat Rs.42 Crs; Revenue at Rs.1,504Crs

IRB Infraposts Q2FY22 net profitat Rs.42 Crs; Revenue at Rs.1,504Crs 1

Mumbai, October 27, 2021:Ensuring the consistent recovery from the COVID-19 pandemic impact, IRB Infrastructure Developers Ltd., today declared its Q2FY22 profit at Rs. 42 Crs and the revenue at Rs. 1,504Crs; up by315% and 29% respectivelyagainst the corresponding period of FY21.

The Company announced its financial results for the Q2 FY22 in a Board Meeting held in Mumbai today.

While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the Company said, “Despite the impact of the second wave of the COVID-19 pandemic, the 2nd quarter was encouraging, as we achieved full COD for our Rajasthan BOT project, commenced commercial operations from Sindhudurg Airport, as well as bagged HAM project in Tamil Nadu and above all completed fund raising for the Private InvIT.”He further added, “With onset of Festival Season in India and more relaxations announced by the Govt., traffic movement is expected to significantly improve further resulting in much stronger H2FY22.”

Financial Performance:

(In Rs Cr)

ParticularsQ2FY22Q2FY21% ChangeH1FY22H1FY21% Change
Total Income1,5041,16929%3,1752,24242%
Profit Before Tax11537211%255116120%
PAT before share of JV7822255%18468171%
PAT after share of JV42(20)310%114(50)328%
Cash Profit24315161%48535636%

*Q2 and H1 of FY21 numbers reflect the impact of total lockdown due to COVID-19 pandemic first wave

**H1 of FY22 numbers reflect impact of partial lockdown due to COVID-19 second wave

The Business Performance:

  • Toll collections have witnessed pre-COVID-19 levels across almost all BOT assets (Mumbai Pune project revenue growth is 39% during the quarter as compared to corresponding quarter of the last year); with a meaningful pick-up in economic activity across the country.
  • Company achieves full COD for its Chittorgarh Gulabpura BOT Asset; thus, leading to 58% increase in tariff with commencement of Toll collection at full rates.
  • Awarded LoA for Rs. 909 Crs Chittoor Thachur six laning HAM project in Tamil Nadu with 20.060 Kms stretch between Pondavakkam to Kannigaipair.
  • Started commercial flights operations from the newly developed green-field Sindhudurg Airport in Maharashtra.  
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