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IRB InvIT's consolidated profit dips 13% to Rs 173 crore in 2019-20

It had clocked a consolidated profit after income tax of Rs 197.76 crore for the financial year 2018-19.

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Last Updated: Jun 05, 2020, 09.10 PM IST
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Consolidated total income and gains during 2019-20 stood at Rs 1,270.09 crore, against Rs 1,233.40 crore in the previous financial year.
New Delhi: IRB InvIT, the country's first listed infrastructure investment trust, on Friday reported a dip of 12.6 per cent in its consolidated profit to Rs 172.69 crore for the financial year 2019-20.

It had clocked a consolidated profit after income tax of Rs 197.76 crore for the financial year 2018-19, IRB InvIT said in a regulatory filing to the BSE.

Consolidated total income and gains during 2019-20 stood at Rs 1,270.09 crore, against Rs 1,233.40 crore in the previous financial year.

Total expenses were Rs 1,097.26 crore, compared with Rs 1,034.13 crore a year ago.

It did not provide consolidated quarterly figures.

"The board has declared distribution of Rs 104 crore to the unit holders translating into payout of Rs 1.80 per unit for the fourth quarter; thus annualising to Rs 10 per unit for 2019-20. This includes Rs 7 per unit as interest and Rs 3 per unit as return of capital," the company said in a statement.

Considering the coronavirus impact, the Board of Investment Manager has decided to reduce the investment management fees by 50 per cent for the financial year 2020-21 and also reduction in floor price by 50 per cent for the financial year 2020-21.

IRB InvIT Fund is the trust settled by its sponsor, IRB Infrastructure Developers Ltd, and is registered under the Sebi (Infrastructure Investment Trust) Regulations, 2014.

The trust, set up to own, operate and maintain portfolio of toll road concessions, is managing seven operational road assets across Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Punjab.
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