IRB Infra Q1 profit surges 31% to 238 crore

New Delhi: IRB Infrastructure Developers on Monday reported 30.8 percent rise in consolidated net profit to Rs 237.8 crore for the first quarter ended June 30.

The company had posted net profit after tax and minority interest of Rs 181.8 crore in the year-ago period, IRB Infrastructure Developers said in a BSE filing.

The total income increased to Rs 1,870.4 crore, from Rs 1,548.08 crore in the corresponding quarter last fiscal.

IRB Infrastructure Developers said its board has declared interim dividend of Rs 2.50 per equity share of face value of Rs 10 for the financial year 2017-18.

The board has "approved offer for sale of 100 per equity stake held by the company in IRB Pathankot Amritsar Toll Road Pvt Ltd to IRB InvIT Fund," the company said in the filing.

The board also re-appointed Virendra D Mhaiskar as Chairman and Managing Director of the company for a term of five years with effect from September 7, 2017.