IRB Infra’s overall toll collection zooms 32% in December; stock gains

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Image Source : IRB INFRA WEBSITE IRB Infra is the largest integrated private toll roads and highways infrastructure developer in India.

Highway infrastructure developer company IRB Infrastructure Developers has informed that its overall toll collection in December zoomed 6 per cent to Rs 388 crore on monthly basis from Rs 366 crore in November 2022. On a year-on-year basis, its total toll collection in December increased by 32 per cent. 

For IRB Infra, according to an exchange filing by the company, the collection in December increased 18 per cent on Y-o-Y to Rs 77 crore from Rs 66 crore.

“The consistent increase in the toll collection reflects not only that the economy is on growth trajectory, but also these corridors are playing vital role in this growth,” Virendra D Mhaiskar, chairman and MD, IRB Infra, said in a statement.

ALSO READ: IRB Infra’s subsidiary raises Rs 700 cr to refinance existing project loans

Meanwhile, shares of IRB Infra traded positive in early morning deals on Tuesday even as Sensex declined more than 200 points to 60,500 and Nifty fell nearly 80 points to trade around 18,000.

Last week, IRB Infra’s board approved the proposal for split of shares. As per a regulatory filing, the company will split its shares in a ratio of 10:1. It means that the face value of the stock will split in the ratio of 10:1 and also the share’s price will adjust accordingly. The current face value of IRF Infra’s share is Rs 10.

“The board considered the proposal for sub-division of 1 equity share of the Company having a face value of Rs 10 each into 10 equity shares having face value of Rs 1 each, subject to regulatory/statutory approvals,” the company had said.

IRB Infra is yet to decide the record date for the stock split decision. IRB Infra is the largest integrated private toll roads and highways infrastructure developer in India.

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