Mid Cap Infra Stock Under Rs 40 Hits 52-Week High After New Announcement

Shares of IRB Infrastructure Developers Ltd on Monday traded new 52-week high on the bourses soon after the company informed BSE on Sunday about strong revenue collection in August 2023. Current market price of IRB Infrastructure stock on BSE is Rs 34.18 apiece with intraday rally of 2.21%. IRB Infrastructure shares soared 43% in last 1-year and gained 98% in last 2-years. Check details below:

IRB Infrastructure Announces Jump In August Revenue Collection: According to the regulatory filing of the company, "IRB Infrastructure Developers Limited, India's leading and the largest integrated multinational infrastructure player in highways sector and its private InvIT, IRB Infrastructure Trust, have collectively reported the toll revenue of Rs. 417 Crs for the month of August 2023 as against Rs.336 Crores in August 2022; thus, Y-o-Y growth of 24%."

Company's wholly owned subsidiaries, which manage Mumbai Pune project and Ahmedabad Vadodara project, reported aggregate toll revenue of Rs.198 Crs against Rs.165 Crs in August 2022; thus, growth of 20%. Similarly, the joint ventures entities under IRB Infrastructure Trust, Private InvIT clocked toll revenue of Rs.219 Crs in August 2023, as against Rs.171 Crs in August 2022; thus, growth of 28%.

Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers Limited said, "We have added prestigious Hyderabad ORR project in Telangana and commenced the toll collection w.e.f. 12nd August 2023." He further added, "We expect the toll revenue to pick up pace, in view of forthcoming festival season along with likely commencement of toll collection on newly bagged Samakhiyali Santalpur BOT project in the State of Gujarat."

IRB Infrastructure Stock Outlook & Return: Current market price of IRB Infrastructure share is Rs 34.18 apiece. The stock opened at Rs 34.64 apiece, touched day's high of Rs 35.00 (also its 52-week high price), and day's low of Rs 34.00 per share, respectively. The company has a market capitalisation of Rs 20,641.30 crore. IRB Infrastructure shares offered 26% return in last 2-weeks only, gained 31% in last 1-month, soared 184% in last 3-years, and jumped 100% in last 5-years.

IRB Infrastructure Financials: The company for the quarter ended June 30, 2023 announced its consolidated total income at Rs 1,745.47 crore, up 2.74% as against its last quarter total income of Rs 1,698.91 crore. Its recent quarter net profit after tax was declared at Rs 187.27 crore.

IRB Infrastructure About: IRB Infrastructure Developers Ltd (IRB) is India's first Integrated Infrastructure player in Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs.70,000 Crs. in 11 States across the parent company and two InvITs. The Company has strong track record of constructing, tolling, operating, and maintaining around 17,200 lane Kms pan India.

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