IRB InVIT reported its second quarter earnings with a revenue of Rs 250 crore. The comparable gross toll collection was up 5.6 percent at Rs 320 crore year on year (YoY).
Throwing more light on the quarterly performance and outlook going forward Tushar Kawedia, CFO, IRB InvIT said this quarter the revenue growth was at 6 percent on a YoY basis on back of traffic and tariff growth.
He also said the worst of GST impact is over and the coming quarter will be good in terms of both traffic and tariff.
He said annual payout of Rs 12 per unit won’t be a challenge. For the quarter gone by they had made out of Rs 3 per unit. For the second half, the expected traffic growth is 6-6.5 percent and the overall revenue growth is 11-12 percent.
Talking about the Amritsar-Pathankot project acquisition, he said the project will start contributing to the InVIT. If any more assets come along which have good valuations then they would look to acquire them, he added.
“As a InVIT we have good appetite to acquire another 2-3 assets,” he said. The Pathankot acquisition was entirely funded by debt of Rs 15.50 crore at the InVIT level.
IRB Infra owns 15 percent of the trust.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
