IRBIRB Infrastructure Developers Ltd.
IRB Infrastructure Developers Q2 FY27 Results: Consolidated Net Profit ₹260 Crore on Total Income of ₹1,945 Crore
- Earnings
- Road infrastructure
Reviewed byRachit TripathiBlacklitt Research
IRB Infrastructure Developers (NSE: IRB) reported consolidated total income of ₹1,944.51 crore and net profit of ₹260.31 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. Standalone total income was ₹1,100.68 crore and net profit ₹233.34 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,944.51 crore, up 8.0% YoY and down 10.5% QoQ
- Net profit and EPS: ₹260.31 crore, up 84.9% YoY; EPS ₹0.22 against ₹0.12
- Finance costs: ₹387.69 crore, down 14.0% YoY from ₹450.96 crore
- Interim dividend: Re 0.05 per share, record date 12 Nov 2026
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,100.68 crore, down 6.1% YoY and 14.4% QoQ
- Net profit and EPS: ₹233.34 crore, up 23.9% YoY; EPS ₹0.19 against ₹0.16
- Other income: ₹97.58 crore, 8.9% of total income
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,944.51 | 1,800.30 | +8.0% | 2,172.67 | -10.5% | |
| Revenue from operations | 1,897.09 | 1,751.02 | +8.3% | 2,137.27 | -11.2% |
| Other income | 47.43 | 49.28 | -3.8% | 35.39 | +34.0% |
| 260.31 | 140.82 | +84.9% | 306.27 | -15.0% | |
| Profit before tax | 385.30 | 260.81 | +47.7% | 416.55 | -7.5% |
| Finance costs | 387.69 | 450.96 | -14.0% | 438.02 | -11.5% |
| Depreciation | 329.03 | 262.12 | +25.5% | 333.38 | -1.3% |
| Tax expense | 124.99 | 119.98 | +4.2% | 110.28 | +13.3% |
| Net profit margin | 13.39% | 7.82% | +5.56 pp | 14.10% | -0.71 pp |
| EPS, basic (₹) | 0.22 | 0.12 | +83.3% | 0.25 | -12.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Profit grew much faster than income. Consolidated net profit rose 84.9% year on year while total income rose 8.0%, and profit before tax rose 47.7%. Finance costs fell 14.0% to ₹387.69 crore, which the filing does not explain, and tax expense rose 4.2% to ₹124.99 crore.
Revenue from operations of ₹1,897.09 crore grew 8.3% year on year, while other income fell 3.8% to ₹47.43 crore. Other income is 2.4% of total income and 12.3% of profit before tax. Depreciation rose 25.5% to ₹329.03 crore; the filing gives no reason for the change.
Against the previous quarter, net profit fell 15.0% and total income fell 10.5%. The company's press release attributes year-on-year growth to toll collections and to distributions from InvITs, and says toll revenue grew around 15%. The filing does not quantify the share of profit that came from InvIT distributions.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,100.68 | 1,172.10 | -6.1% | 1,285.80 | -14.4% | |
| Revenue from operations | 1,003.10 | 1,064.72 | -5.8% | 1,230.26 | -18.5% |
| Other income | 97.58 | 107.38 | -9.1% | 55.55 | +75.7% |
| 233.34 | 188.37 | +23.9% | 269.53 | -13.4% | |
| Profit before tax | 311.62 | 295.59 | +5.4% | 359.98 | -13.4% |
| Finance costs | 144.81 | 153.04 | -5.4% | 147.51 | -1.8% |
| Tax expense | 78.28 | 107.21 | -27.0% | 90.45 | -13.5% |
| Net profit margin | 21.20% | 16.07% | +5.13 pp | 20.96% | +0.24 pp |
| EPS, basic (₹) | 0.19 | 0.16 | +18.8% | 0.22 | -13.6% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 23.9% to ₹233.34 crore while total income fell 6.1%. Revenue from operations fell 5.8% to ₹1,003.10 crore, and other income fell 9.1% to ₹97.58 crore. Profit before tax rose 5.4%, and tax expense fell 27.0% to ₹78.28 crore.
Standalone finance costs were ₹144.81 crore, 13.2% of total income. Consolidated net profit of ₹260.31 crore is ₹26.97 crore higher than the standalone figure. The standalone statement shows no separate depreciation line.
The consolidated statement covers the company's subsidiaries and joint ventures, including IRB Infrastructure Trust. The company says its portfolio comprises 27 revenue-generating highway assets with an asset base of about ₹940 billion across 13 states, and that it targets about ₹1,400 billion by FY2030.
Exceptional items of ₹426.54 million on a consolidated basis and ₹106.88 million standalone, relating to New Labour Codes, appear in the year ended 31 Mar 2026, not in this quarter. Statutory auditors issued an unmodified limited review conclusion on both statements; nineteen subsidiaries were reviewed by other auditors.
Inference
The filing declares an interim dividend of Re 0.05 per share, 5% of face value of Re 1, for FY 2026-27, with a record date of 12 Nov 2026 and payment on or before 4 Dec 2026. The total payout in rupees is not stated.
The company says the transfer of two BOT assets from its Private InvIT to the IRB InvIT Fund unlocked equity of ₹2,744 crore. The filing does not say whether any part of this affected the quarter's profit.
The filing does not say what drove the fall in consolidated finance costs or the change in depreciation, and it gives no timing for future New Labour Codes charges.
Filed with BSE on . Reference: Original filing (PDF)
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
