IRB Infrastructure Developers has reported a 13.24 per cent decline in consolidated net profit to ₹208.01 crore during the quarter ended March 31, 2019 as against ₹240 crore in the year-ago period due to increase in interest costs across some of its projects but has a strong order book for the 2020 fiscal.
Group CFO Anil Yadav told BusinessLine that interest expense has gone up 50 per cent for three projects in Rajasthan, Solapur and Aurangabad, where projects are ongoing and the interest was charged to the balance sheet.
For the entire fiscal, IRB Infra’s consolidated net profit went down by 8 per cent from ₹920 crore to ₹849.96 crore when compared to the previous fiscal.
