IRB Infra and its Associates' September 2023 toll revenue is up by 28% YoY to Rs. 421 Crs

Continuing with the growth momentum in toll revenue gained in Q1FY24, IRB Infrastructure Developers Limited, India's leading and the largest integrated multinational transport infrastructure developer in roads and highways sector and its private InvIT, IRB Infrastructure Trust, registered significant growth in toll collection for Q2FY24, further resulting into robust toll collection growth for the first half of FY24.

Company's monthly toll collection has gone up by 28% from Rs.328 Crs in September 2022 to Rs. 421 Crs in September 2023; thus, registering aggregate toll revenue growth of 22% in Q2FY24 (Rs. 1,203 Crs) over Q2FY23 (Rs.984 Crs).

With this, the aggregate toll revenue of both entities for first half of FY24 has risen to Rs. 2,386 Crs from Rs. 1,984 Crs in corresponding half of FY23, thus registering a decent increase of 20% over last year.

Commenting on the occasion, Shri Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers Limited said, "The toll revenue growth in second quarter and the first half of FY24 overall as well, looks very good and much encouraging. Commencement of toll collection on newly added Hyderabad ORR in mid-August, full impact of the same will be visible in the coming quarter. We are expecting the growth momentum to improve in the second half of the year, in view of the onset festive season and expected start of tolling on Samakhiyali Santalpur BOT Asset in Gujarat in coming days."

Source : Equity Bulls

Keywords

IRBInfrastructureDevelopers PrivateInvIT IRBInfrastructure Trust Q2FY24 TollRevenue