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• High interest and material cost resulted in IRB Infrastructure Developers today posting a marginal 1.2 per cent decline in its net profit to Rs 131.3 crore as compared to Rs 133 crore in the corresponding period last year. The total income of the company stood at Rs 779 crore for the period, up 11.46 per cent, as against Rs 680 crore in the year-ago period. "The profit after tax was flat on a Y-o-Y basis due to increased amortisation and interest cost of Surat Dahisar project since the project has become operational," IRB's Chief Financial Officer Anil Yadav told PTI. The total interest for the period rose to Rs 141.96 crore as compared to Rs 81.97 crore in the corresponding quarter last fiscal. "Interest cost will continue to be a concern going forward.

• But with RBI indicating some ease in interest rates, we are expecting some relief. We are also banking on increase in toll collection on the roads that have already become operational," he said, adding that certain projects are likely to become operational by the end of this fiscal. IRB expects to add a few more projects to its current portfolio of order book which stands at Rs 9,100 crore as on December 31. "In the beginning of fiscal, we had given a guidance to bag around a total of Rs 5,000 crore worth projects for the entire fiscal of which we have already won the Ahmedabad- Vadodara road project worth Rs 4,000 crore," Yadav said. The company is expecting a topline growth of Rs 3,000 crore and net profit of Rs 500 crore for the fiscal year. "We are well on track to achieve our guidances that we had announced at the beginning of the year. We have already achieved around Rs 380 crore in PAT and another Rs 120 crore is easily achievable," Yadav said. IRB declared an interim dividend of Rs 1.80 per equity share of face value of Rs 10 each.

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