Highway developer IRB Infrastructure Developers Ltd reported a consolidated net profit of Rs 71.91 crore for the quarter ended June 30. The company had clocked a consolidated net loss of Rs 30.13 crore in the corresponding quarter of the previous fiscal. The total consolidated income during the quarter under review rose to Rs 1,670.48 crore as against Rs 1,073.46 crore in the year-ago period. Expenditure also increased to Rs 1,529.73 crore during the June quarter, compared to Rs 994.66 crore in the previous fiscal. Tushar Kawedia, Chief Financial Officer spoke to CNBC-TV18 about the earnings fineprint.

On toll collections, he said, “The whole collection in the month of June, the momentum is still continuing in July and as we are seeing lot of relaxations being given state-wise, the impact of second wave, which affected in the first quarter, is now being negligent and there is a significant improvement in the total collections across all our projects. Toll collections have significantly improved from the pre-second wave level, which dipped to 25 percent in the month of May. It has now come back to the pre-second wave number. As of now, the per day collections in the month of June were close to Rs 6.6 crore, which is further improving in the month of July and August as well.”

On revenues, Kawedia said, “We are targeting revenue of around 60 billion for this particular year, considering the good momentum in the construction activity. As far as the availability of the resources at site goes, we have our manpower, frontline workers being available. We have fully vaccinated almost 60 percent now, and that gives us a good confidence to achieve that particular target for this year.”

On monetising assets, he said, “We have a plan wherein build-operate-transfer (BOT) assets, which may be seen as transferred to Infrastructure Investment Trust (InvITs), but we have one HAM asset which is due for completion in next quarter wherein it will be eligible for transfer to the public InvIT. We may look for this asset to be offered to the public InvIT once that is completed.”

(With inputs from PTI)

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(Edited by : Dipika)