IRB InvIT Fund Q1 results: Profit surges four-fold to Rs 108 cr

IRB InvIT Fund, India's first listed infrastructure investment Trust on Saturday reported over four-fold jump in consolidated net profit at Rs 107.83 crore for the quarter ended June 30, 2021. The company had clocked a profit of Rs 23.91 crore in the corresponding quarter of the previous fiscal year, it said in a regulatory filing.

Total income during the quarter under review increased to Rs 336.93 crore from Rs 198.48 crore in the year-ago period. Total expenditure also rose to Rs 225.45 crore from Rs 174.60 crore. The company, in a statement, said the impact of the second wave of COVID-19 was much less as compared to the first wave as the toll collection across all assets increased by 58 per cent during the quarter.

Toll collection through FASTag crossed 95 per cent mark, it said, adding that cash compensation and extension in concession period for toll loss due to farmers' agitation was in line with concession agreement. It said it will distribute Rs 104 crore to the unit holders at the rate of Rs 1.80 per unit for the first quarter of 2021-22.

IRB InvIT Fund is a Trust settled by its sponsor, IRB Infrastructure Developers Ltd and is registered under SEBI's Infrastructure Investment Trust Regulations 2014. The Trust, set up to own, operate and maintain portfolio of toll road concessions, is managing seven operational road assets at present, with an aggregate value of approximately Rs 7,500 crore spread across Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Punjab.