Latest News | IRB Infra Reports Q2 Net Profit at Rs 42 Crore

New Delhi, Oct 26 (PTI) IRB Infrastructure Developers on Tuesday reported a consolidated net profit of Rs 42 crore for the second quarter ended September 30.

The company had clocked a consolidated loss of Rs 20 crore in the corresponding quarter of the previous fiscal, it said in a statement.

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Total income during the quarter under review increased to Rs 1,504 crore against Rs 1,169 crore in the year-ago period.

The company said toll collections have witnessed pre-COVID-19 levels across almost all BOT assets, with a meaningful pick-up in economic activity across the country.

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Virendra D Mhaiskar, chairman and managing director of the company, said, “Despite the impact of the second wave of the COVID-19 pandemic, the second quarter was encouraging".

“With the onset of festival season in India and more relaxations announced by the government, traffic movement is expected to significantly improve further resulting in much stronger H2FY22," he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)