Shares of IRB Infrastructure Developers Ltd were trading 4% higher on 8 May after the company announced its quarterly earnings for January-March. 

The company reported a 45% year-on-year increase in its net profit at Rs 188.9 crore for the quarter under review from Rs 130.15 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations during the quarter stood at Rs 2,061.2 crore, marking a 27.2% YoY from the same quarter last year.

The company recorded a 20% increase in toll revenue from the Mumbai-Pune Expressway during the fiscal year 2024. 

Virendra D Mhaiskar, Chairman and Managing Director of IRB Infrastructure Developers, said, “FY24 was an astounding year. We not only received three prestigious TOT (Toll Operate Transfer) awards but also tied up finances, made an upfront payment of concession fees to the respective authorities and commenced tolling on these projects well within the set timelines.”

In the last one year, the shares of the company have given a return of around 142% making it a multibagger stock.

At 11:56 am, the shares of IRB Infrastructure were trading 3.03% higher at Rs 68.05 on NSE.