IRB Infra declares financial results for Q4 and FY18

Last Updated: Fri, May 04, 2018 14:44 hrs

[India], May 04 (ANI-BusinesswireIndia): IRB Infrastructure Developers Ltd. (IRB); India's leading and one of the largest highways infrastructure developers, recently announced its audited financial results for the Q4 and FY18.

The highlights of IRB Infra's Financial Performance are as follows:

Q4 FY18 v/s. Q3 FY18 v/s Q4 FY17

Total Income

Q4FY18 (In Rs. Cr.) - 1,432

Q3FY18 (In Rs. Cr.) - 1,342

QoQ - seven percent

Q4FY17 (In Rs. Cr.) - 1,656

YoY - 14 percent

Profit before tax

Q4FY18 (In Rs. Cr.) - 384

Q3FY18 (In Rs. Cr.) - 318

QoQ - 21 percent

Q4FY17 (In Rs. Cr.) - 298

YoY - 29 percent

Net Profit

Q4FY18 (In Rs. Cr.) - 240

Q3FY18 (In Rs. Cr.) - 207

QoQ - 16 percent

Q4FY17 (In Rs. Cr.) - 207

YoY - 16 percent

Note: The drop in YoY Total Income is on account of transfers of seven projects to InvIT

FY 2018 v/s. FY 2017

Total Income

FY18 (In Rs. Cr.) - 5,863

FY17 (In Rs. Cr.) - 5,969

Percent Increase / (Decrease) - (two percent)

Profit before tax

FY18 (In Rs. Cr.) - 1,338

FY17 (In Rs. Cr.) - 984

Percent Increase / (Decrease) - 36 percent

Net Profit

FY18 (In Rs. Cr.) - 920

FY17 (In Rs. Cr.) - 715

Percent Increase / (Decrease) - 29 percent

Note: The drop in YoY Total Income is on account of transfers of seven projects to InvIT

"Not only Q4, but the whole of FY18 was stupendous for us at IRB Infra, as it witnessed return of traffic growth, post demonetisation and GST, across projects resulting into robust revenue build-up. We successfully listed IRB InvIT and transferred seven projects to it. On construction activities front, Rajasthan projects received appointed dates to commencing tolling and construction simultaneously after achieving financial closure. We also commissioned toll collection on two projects post construction and above all added four new projects to the portfolio, 3 under Hybrid Annuity and one under BOT model. We enter FY19 with strong momentum and more efficient Balance Sheet,"said Virendra D. Mhaiskar, Chairman and Managing Director, IRB Infrastructure Developers Ltd.

The highlights of company's business performance in FY18 are:

Successfully launched and listed India's first ever InvIT IPO on 18th May 2017 that raised Rs. 5,035 Crores, with an overwhelming response of 8.7 times from investors.

Transferred seven projects to the IRB InvIT; and, continues with the responsibility of maintenance management of these projects through its wholly-owned subsidiary.

Received Rs. 2,200 Crs as consideration from InvIT; holds 16 percent of Unit Capital in InvIT.

Debt Equity Ratio is reduced substantially from 2.85 in FY17 to approx. 1.87 in FY18; thus witnessing two-notch rating upgrade to A+.

Achieved Financial Closure for all the three - 4 to 6 laning - highway projects in Rajasthan and started tolling after receipt of Appointed Date from the NHAI.

Achieved COD for Kaithal - Rajasthan Border and Solapur - Yedeshi projects.

Bagged four projects totaling up to Rs. 8,930 Cr comprising three Hybrid Annuity Projects and one in BOT space. (ANI-BusinesswireIndia)

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