Mumbai-based road developer IRB Infrastructure said consolidated profit in July-September quarter declined 5 percent to Rs 142.2 crore compared with Rs 149.67 crore in year-ago period. Higher finance cost dented bottom line.
Revenue during the quarter increased 12.3 percent year-on-year to Rs 1,290.6 crore while other income was up by 11 percent at Rs 33.63 crore.
Earnings except margin missed analysts' expectations. Profit was estimated at Rs 161 crore on revenue of Rs 1,372 crore and EBITDA was expected at Rs 751 crore with margin at 54.7 percent for the quarter, according to average of estimates of analysts polled by CNBC-TV18.
EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 17.2 percent year-on-year to Rs 709 crore and margin expanded by 220 basis points to 54.9 percent in the quarter ended September 2016.
Finance cost jumped 41.6 percent to Rs 339.6 crore in Q2 on yearly basis.
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