IRB POSTS NET PROFIT RS. 207 CRS FOR Q4FY17 & Rs. 715 CRS FOR FY2017 DECLARES 2ND INTERIM DIVIDEND OF 30%

Mumbai, May 30, 2017: IRB Infrastructure Developers Ltd. (IRB); India’s leading and one of the largest highways infrastructure developers, today announced its audited financial results for the fourth quarter as well as FY 2016-17. IRB rewarded its shareholders with 2nd interim dividend of Rs. 3/- per share for FY17. Earlier, in January 2017, IRB had declared first interim dividend of Rs.2/- per share. IRB, listed in 2008, has been at the forefront for creating value for its stakeholders.

The highlights of Financial Performance are:

Q4 FY 2017 V/s. Q4FY 2016                                             

Sr. No. Particulars Q4 FY17

(Rs. in Crs)

Q4 FY16

(Rs. in Crs)

% Increase / (Decrease)
1 Total Income 1,656 1,571 5%
2 Net Profit 207 151 37%

FY 2017 V/s. FY 2016

Sr. No. Particulars Q4 FY17

(Rs. in Crs)

Q4 FY16

(Rs. in Crs)

% Increase / (Decrease)
1 Total Income 5,969 5,255 14%
2 Net Profit 715 640 12%

The highlights of Business Performance are:

  • IRB recently listed first InvIT of the country in May 2017 with 6 operational assets valued at Rs. 5920 Crore. IRB has received Rs. 1700 Crore as consideration from the InvIT and IRB continues to hold 15% of the Unit Capital of the InvIT.  Consequently, IRB’s Debt Equity Ratio has reduced substantially from 3:1 to approx. 1.8:1 which would lead credit rating upgrade for IRB. Post transfer of 6 assets to the InvIT, IRB’s Total Income and EBITDA is expected to remain at present level while PAT and Networth would improve by savings on the cost of debt and steady income from the InvIT.
  • Company executed the Concession Agreement with NHAI through its SPV for six laning of the 90 Kms stretch of Kishangarh – Gulabpura Section of NH-79 & NH-79A
  • Company’s Construction Order Book stands at approx. Rs. 9,250 Crores at the end of FY 2016 -17
  • Company’s consolidated Networth at the end of FY2017 stands at Rs. 5,272 Crores

During the fourth quarter, Company recently received an honour of “Outstanding Contribution in Roads & Highways” from the panel of Juries at 6th EPC World Awards.