IRB Infrastructure shares in focus as December toll collection surges 19%

IRB Infrastructure Developers’ shares will remain in focus on Friday, January 10, following the company’s announcement of a 19% year-on-year (YoY) increase in toll collections for December 2024. The total toll collection for the month reached Rs 580 crore, up from Rs 488 crore in December 2023.

Amitabh Murarka, Deputy CEO, stated, “We have seen impressive growth in the current month across our portfolio. Looking ahead, we expect this upward trend in toll collection to continue, driven by India’s robust GDP growth, which should boost vehicular traffic across our 12-state network.”

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IRB Infra Q2 FY25 performance

IRB Infrastructure Developers reported a 9.1% YoY decline in revenue for Q2 FY25, totaling Rs 158.6 crore, down from Rs 174.5 crore in Q2 FY24.

However, the company posted a 4.3% increase in consolidated net profit, which reached Rs 99.8 crore, compared to Rs 95.7 crore in the same quarter last year, driven by higher operating margins.

The company’s EBITDA declined by 3.6%, coming in at Rs 76.6 crore, down from Rs 79.5 crore. Despite this, EBITDA margins improved to 48.3%, up from 45.6% a year earlier, reflecting efficiency gains that helped mitigate revenue challenges.Also Read: When D-St turned fearful in Dec, retail money got greedy

IRB Infra shares target price

According to Trendlyne data, the average target price for the stock is Rs 69, implying a potential upside of 25% from its current market price. The consensus recommendation from six analysts is a ‘Buy.’

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IRB Infra shares technical indicators

Technically, the stock’s relative strength index (RSI) is at 46. An RSI below 30 is considered oversold, while an RSI above 70 indicates overbought conditions. Additionally, the MACD stands at 0.8, above its center line but below the signal line.

The stock is currently trading below its 5-day, 10-day, 20-day, 30-day, 100-day, and 200-day simple moving averages (SMAs).

IRB Infra shares performance

On Thursday, IRB Infra shares closed at Rs 55.5, down 3.12% on the BSE, while the benchmark Sensex declined 0.68%. The stock has declined 18% over the past six months but gained 82% in the last two years. The company’s market capitalization stands at Rs 33,528 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)