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What is the story about?
IRB Infrastructure Developers Ltd reported a mixed set of numbers for the December quarter on Friday, with revenue declining but operating performance holding up and shareholder rewards taking centre stage.
Revenue for the quarter fell 7.6% year-on-year to ₹1,871 crore from ₹2,025 crore. Net profit declined sharply to ₹210.7 crore compared with ₹603 crore in the corresponding quarter last year.
The company clarified that net profit before exceptional items for Q3 FY26 rose 14% year-on-year, indicating an improvement in underlying operational performance despite the sharp drop in reported profit.
At the operating level, EBITDA rose 3.9% to ₹1,022 crore from ₹984 crore a year earlier. Margins expanded to 54.6% from 48.6% in the year-ago period, reflecting improved operating efficiency despite the drop in topline.
Alongside the results, the company declared a third interim dividend of 7%, or ₹0.07 per equity share of face value ₹1 each, for FY26. The record date has been fixed as February 19, 2026, and the dividend will be paid on or before March 14, 2026.
Chairman and Managing Director Virendra D. Mhaiskar said the company monetised three BOT assets during the quarter by transferring them from a Private InvIT to a Public InvIT, unlocking equity of ₹4,900 crore. It also completed the transfer of the VM7 HAM asset to the Public InvIT, unlocking ₹513 crore of equity and reducing debt by over ₹700 crore.
He added that, in line with its capital recycling strategy, the unlocked capital will be deployed towards equity requirements for two newly acquired TOT assets aggregating around ₹14,000 crore.
The board also recommended a bonus issue in the ratio of 1:1, subject to shareholders’ approval through postal ballot and other statutory clearances. The record date for the bonus issue will be intimated separately.
Further, IRB proposed increasing its authorised share capital from ₹615 crore to ₹1,260 crore, subject to shareholder approval.
Also Read: EPL Q3 Results: Revenue growth firm across regions, Europe remains soft spot
Shares of the company ended at ₹43.95 on the NSE ahead of the earnings announcement, down 1.15% for the day.
Revenue for the quarter fell 7.6% year-on-year to ₹1,871 crore from ₹2,025 crore. Net profit declined sharply to ₹210.7 crore compared with ₹603 crore in the corresponding quarter last year.
The company clarified that net profit before exceptional items for Q3 FY26 rose 14% year-on-year, indicating an improvement in underlying operational performance despite the sharp drop in reported profit.
At the operating level, EBITDA rose 3.9% to ₹1,022 crore from ₹984 crore a year earlier. Margins expanded to 54.6% from 48.6% in the year-ago period, reflecting improved operating efficiency despite the drop in topline.
Alongside the results, the company declared a third interim dividend of 7%, or ₹0.07 per equity share of face value ₹1 each, for FY26. The record date has been fixed as February 19, 2026, and the dividend will be paid on or before March 14, 2026.
Chairman and Managing Director Virendra D. Mhaiskar said the company monetised three BOT assets during the quarter by transferring them from a Private InvIT to a Public InvIT, unlocking equity of ₹4,900 crore. It also completed the transfer of the VM7 HAM asset to the Public InvIT, unlocking ₹513 crore of equity and reducing debt by over ₹700 crore.
He added that, in line with its capital recycling strategy, the unlocked capital will be deployed towards equity requirements for two newly acquired TOT assets aggregating around ₹14,000 crore.
The board also recommended a bonus issue in the ratio of 1:1, subject to shareholders’ approval through postal ballot and other statutory clearances. The record date for the bonus issue will be intimated separately.
Further, IRB proposed increasing its authorised share capital from ₹615 crore to ₹1,260 crore, subject to shareholder approval.
Also Read: EPL Q3 Results: Revenue growth firm across regions, Europe remains soft spot
Shares of the company ended at ₹43.95 on the NSE ahead of the earnings announcement, down 1.15% for the day.
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