IRB Infrastructure’s shares increased by up to 2.40 percent, reaching an intraday high of Rs 69.79 a share.
Following the company’s announcement of a strong June toll revenue collection, the stock price increased.
The company stated in an exchange filing, “In continuation of the growth momentum seen in the first two months of Q1FY25, IRB Infrastructure Developers Limited and the IRB Infrastructure Trust have collectively reported Y-o-Y toll revenue growth of 35 per cent for the month of June 2024.”
The strong growth continued into the first quarter of FY25, when toll collections reached Rs 1,556 crore as compared to Rs 1,183 crore in the same period of FY24, signifying a 32% increase in year-over-year growth.
As of 10:56 am, IRB Infrastructure shares were trading 0.34% higher at ₹68.22.
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