Shares of IRB Infrastructure Developers Ltd surged 8% on 7 June after the company announced that their toll collections in May 2024 increased 30% year-on-year to Rs 536 crore from Rs 411 crore in May 2023. 

Amitabh Murarka, Deputy CEO of IRB Infra, said, “This reinforces the consistency and robustness of growth across all highway assets we manage in India. With the annual toll tariff revision now effective from 3 June and the strong GDP numbers, we expect this positive trend in toll collections to continue in the upcoming quarters.”

In its quarterly report for January-March, the company reported a 45% YoY increase in net profit to Rs 189 crore during the quarter from Rs 130 crore reported in the same period of the previous fiscal year. 

The revenue from operations during the quarter stood at Rs 2,504 crore, marking a 47% YoY increase from Rs 1,699 crore reported in the corresponding quarter of the previous fiscal year. 

The company is India’s pioneer integrated multi-national transport infrastructure developer in the road and highways sector. The company has a strong asset base of approximately Rs 80,000 crore, spanning across 12 states. 

IRB has constructed, tolled, operated, and maintained approximately 18,500 lane kilometres nationwide, with 15,500 lane kilometres currently operational.

At 1:05 pm, the shares of IRB Infra were trading 7.19% higher at Rs 75.25 on NSE.