IRB Infrastructure Shares Soar To New Height On Strong Toll Revenue Growth
IRB Infra Share Price: Shares of IRB Infrastructure surged by as much as 2.40 per cent to reach an intraday high of Rs 69.79 per share. The increase in stock price followed the company’s announcement of strong toll revenue collections for June.
In an exchange filing, IRB Infrastructure stated, “In continuation of the growth momentum seen in the first two months of Q1FY25, IRB Infrastructure Developers Limited and the IRB Infrastructure Trust have collectively reported a year-on-year toll revenue growth of 35 per cent for June 2024.”
At 9:27 AM, shares of IRB were trading at Rs 69.04 per share. In comparison, the BSE Sensex was up by 0.12 per cent, reaching 80,017.95 points.
The robust growth extended into the first quarter of FY25, with total toll collections reaching Rs 1,556 crore, compared to Rs 1,183 crore in the same quarter of FY24, marking a 32 per cent year-on-year increase.
For June 2024 alone, toll collections were Rs 517 crore, a significant rise from Rs 383 crore in June 2023.
IRB Infrastructure Developers Ltd (IRB) is a leading Integrated Multi-National Transport Infrastructure Developer, specializing in the Roads & Highways segment. With an asset base of around Rs 80,000 crore across the parent company and two Infrastructure Investment Trusts (InvITs), IRB has a strong presence in the infrastructure sector. Over its 25-year history in India, IRB has constructed, tolled, operated, and maintained approximately 18,500 lane kilometers of roads nationwide and currently manages 15,500 lane kilometers.
