IRB Infra Q3 consolidated net up 9 per cent at Rs 143 crore

NEW DELHI: IRB Infrastructure today reported nine per cent rise in consolidated net profit at Rs 143 crore for the third quarter ended December 2012 on higher income.

The company had clocked Rs 131 crore net profit during the October-December quarter of the last fiscal.

Total income rose to Rs 946.57 crore during the reported quarter from from Rs 779.64 crore a year ago, largely due to "moderate traffic growth and higher wholesale price index in comparison to the last year", the company said in a BSE filing.

Revenue contribution from the construction segment rose by 29 per cent in comparison to Q3 FY'12, it said.

IRB said it has received all approvals to commence work on its Sindhudurg Airport project and accordingly construction will commence shortly.

"The project is having total capital outlay of Rs 350 crore to be funded with debt equity mix of 2:1, which will be funded from internal accruals," it said.

Shares of the company today settled at Rs 124.30 per share on the BSE, up 5.03 per cent over their previous closing.