IRB Infrastructure Q1 net profit at Rs 250cr; to raise Rs 1500cr

IRB Infrastructure Developers has reported 5 percent jump in its June quarter (Q1FY19) net profit at Rs 250 crore versus Rs 237.85 crore in the same quarter last fiscal.

Revenue of the company was down 15 percent at Rs 1537.95 crore against Rs 1816.87 crore.

The operating profit or EBITDA was down 8.7 percent at Rs 746.1 crore and margin was up at 48.5 percent.

The board declared interim dividend of Rs 2.50 per equity share of face value of Rs 10 each, for the financial year 2018-19.

IRB Infrastructure Q1 net profit at Rs 250cr; to raise Rs 1500cr

It has fixed August 2, 2018 as the record date for the purpose of payment of interim dividend. Interim dividend will be paid / dispatched to the equity
shareholders of the company on or before August 14, 2018.

The board also approved resolution for raising of funds by issue of securities including but not limited to equity shares, ADR/GDR / FCCBs and/or non- convertible debentures along with warrants and/or any securities convertible into equity shares through public and/or rights issue and/or private offerings and/or on preferential allotment basis, including to qualified institutional buyers by way of QIP for an aggregate amount not exceeding Rs 1,500 crore subject to approval of members in the AGM.

The company’s 20th annual general meeting (AGM) is scheduled to be held on August 31, 2018.

IRB Infrastructure Developers ended at Rs 194.40, down Rs 2.85, or 1.44 percent on the BSE.

source: moneycontrol

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