IRB Infrastructure toll revenue up 18% to Rs 1,183 crore in Q1

Representative image.

IRB Infrastructure Developers Ltd (IRB) said today its revenue from toll collection grew by 18 percent to Rs 1,183 crore in the first quarter of this financial year.

Toll collection stood at Rs 1,000 crore in the April-June quarter of preceding 2022-23, IRB said in a statement. "IRB and its private InvIT, namely IRB Infrastructure Trust, have registered a toll revenue growth of 16 per cent in the month of June 2023. Toll revenue growth for Q1FY24 for both entities was 18 per cent over the toll revenue in corresponding quarter of FY23," it noted.

In June 2023, the company recorded Rs 383-crore toll revenue, higher from Rs 329 crore in June 2022.

Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers Limited said, "First quarter of FY24 looks much positive as an upward trend seen in aggregate toll revenue as compared to corresponding quarter of last fiscal. We expect similar momentum for the rest of FY24."

IRB has a track record of constructing, tolling, operating and maintaining around 17,200 lane km across India. The company is India’s leading and one of the largest integrated infrastructure players in the highways sector.