IRB Infrastructure Developers has posted 27 percent fall in its consolidated profit after tax (PAT) at Rs 159.73 crore in the quarter ended December 2019.
The company had posted a profit of Rs 218.90 crore in a year-ago period.
Total income for the quarter declined to Rs 1,790.17 crore as against Rs 1,835.02 crore and total expenses increased to Rs 1,534.36 crore, from Rs 1,446.82 crore, YoY.
Here are the highlights from the IRB Infrastructure's earnings call as compiled by Narnolia Financial Advisors:
The company has emerged as the only bidder for the Mumbai Pune ToT project with the bid price of Rs 8,262 crore.
The company has to pay Rs 8,262 Cr in 4 installments with first installment due in June-20 of Rs 6,500 crore, 2nd and 3rd installment of Rs 850 crore each will be due in March-21 and March-22. The last installment is due in March-23 of Rs 62 crore.
It has received PCoD for the Goa Karnataka BoT project and toiling has started from Feb 2020. Project has completed 75% and balance land parcel has also handed over by the NHAI and construction will be completed in next 2-3 months.
Initial toll collection on the Goa Karnataka project is in line with the expectation.
Toll growth on Ahmedabad toll project was driven by the higher economic activity in the state. The traffic diversion is still continuing.
The company has submitted 3-4 bids of HAM projects and stands qualified to bid for the 2 BoT projects worth Rs 2,500 crore each.
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