IRB Infrastructure posts consolidated net loss of Rs 30.13 cr in Q1
Highways developer IRB Infrastructure Developers Ltd (IRB) on Monday reported a consolidated net loss of Rs 30.13 crore for the quarter ended June 30, 2020 amid the COVID-19 pandemic.
The company had clocked a consolidated profit of Rs 206.62 crore in the corresponding quarter of previous fiscal, it said in a regulatory filing to the BSE.
Total consolidated income during the quarter under review declined to Rs 1,073.46 crore as against Rs 1,821.12 crore in the year-ago period.
Total expenditure declined to Rs 994.66 crore during the quarter under review as against Rs 1,433.95 crore in the year-ago period.
The company, in a statement, said toll collection across all projects recovered to the extent of 75 per cent year-on-year (YoY) in June 2020 and continues to improve further, and normalcy for collections as well as construction segment is expected over the coming months.
