IRB Infrastructure Developers Reports Strong Financial Performance, Prepares for Equity Share Offer

IRB Infrastructure Developers has announced a robust financial performance, with a 45.1% year-on-year increase in net profit to ₹188.9 crore for the fourth quarter ending March 31, 2024. This significant growth, reported in a regulatory filing, marks a substantial improvement from the ₹130.2 crore net profit recorded in the corresponding quarter.

The company’s revenue from operations also witnessed a notable surge, rising by 27.2% to ₹2,061.2 crore compared to ₹1,620 crore in the same period of the previous fiscal year. Furthermore, at the operating level, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a healthy increase of 17.3% to ₹889.9 crore, up from ₹758.7 crore in the corresponding period of the preceding fiscal.

In light of its strong financial performance, IRB Infrastructure Developers is gearing up for an equity share offer. The offer price range is set between ₹63.0 and ₹72.7 per equity share, representing a potential discount of up to 13.3% from the upper price band. The total offer size amounts to up to 4% of the company’s equity, with a maximum value of ₹1,512 crore at the lower end of the price band. The transaction is being managed by Jefferies India Private Ltd and CLSA India Private Ltd.

Furthermore, sellers involved in the equity share offer are subject to a 180-day lock-up period on further share sales.

Shares of IRB Infrastructure Developers Ltd closed at ₹72.74, marking an increase of ₹1.22 or 1.71% on the BSE, reflecting positive market sentiment following the company’s strong financial performance and upcoming equity share offer.