IRB Infrastructure Q4 FY17 net up 37% to Rs 207 crore

Infrastructure firm IRB Infrastructure Developers today reported a 37 per cent increase in net profit for the quarter ended March 31 at Rs 207 crore.

The company had reported a net profit of Rs 151 crore in the corresponding quarter of last fiscal.

Its total income for the January-March period stood at Rs 1,656 crore as against Rs 1,571 crore a year ago, registering a growth of five per cent, the company said in a statement.

For the year, the company reported a 12 per cent increase in net profit at Rs 715 crore as against Rs 640 crore in FY16. Its total income in FY17 increased by 14 per cent to Rs 5,969 crore from Rs 5,255 crore in last year.

Recently, IRB listed first InvIT of the country with 6 operational assets valued at Rs 5,920 crore. It received Rs 1,700 crore as consideration from the InvIT and IRB continues to hold 15 per cent of the unit capital of the trust.

Consequently, IRB's debt-equity ratio has reduced substantially from 3:1 to around 1.8:1 which would lead credit rating upgrade for IRB.

IRB's construction order book stands at around Rs 9,250 crore at the end of FY 2016-17.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)