IRB InvIT Fund Q1 results: Net profit declines 44% to Rs 24 crore

MUMBAI: IRB InvIT Fund on Thursday reported a 44.14 per cent decline in its net profit to Rs 23.91 crore for the quarter ended June on the back of lower toll collections due to coronavirus-induced lockdown. The InvIT had reported a net profit of Rs 42.81 crore in the corresponding quarter of last fiscal.

Its gross income declined to Rs 198.48 crore in Q1 FY2021 as against Rs 322.85 crore a year ago, impacted largely due to lower income from operations.

As a result, the board has declared a distribution of Rs 87 crore to the unit holders for the quarter as against Rs 174 crore declared in Q1 FY2020.