IRB Infrastructure's net profit zooms 94% in December quarter; record date for stock split fixed

IRB Infrastructure Results, IRB Infrastructure Stock Split News: IRB Infrastructure Developers Limited has reported robust numbers in the third quarter. The company's net income zoomed a whopping 94 per cent in the December quarter on YoY to Rs 141.35 crore  YoY. The same stood at Rs 72.68 crore during the corresponding quarter last fiscal.

The Mumbai headquartered company's total income during the quarter under review rose to Rs 1,570 crore as compared to Rs 1,497.78 crore during the October-December period in FY22, the company said in a regulatory filing. The expenses declined to Rs 351.72 crore from Rs 1,280.22 crore.

The Mumbai headquartered had logged a net profit of Rs 72.68 crore during the same quarter a year ago.

Meanwhile, Zee Business panellist Himanshu said that shares of IRB Infra are in a consolidation phase for the past week and trading in the range of Rs 260 - Rs310/320. "The stock is in a strong intermediate uptrend. One can buy in the range of Rs 280 - Rs 285 with a stop loss of Rs 260."

He suggested buying shares of the company on dips with a view of 6 to 8 months, adding that an upside breakout is possible. It can make new highs.

Meanwhile, IRB Infra's total toll collection in January rose 36 per cent to Rs 374.81 crores. The same stood at Rs 276.44 crores in January 2022.

IRB Infrastructure Stock Split News,  IRB Infra Record Date for Stock Split 

IRB Infra's board had last week fixed the record for the stock split in the ratio of 10:1. The record date is February 22. Once the split takes effect, the face value of each share will be Re 1.