India's IRB Infrastructure falls 4% as Q4 profit slides

IRB Infrastructure Developers

22/05/2023 09:06

** Shares of IRB Infrastructure Developers Ltd  IRBI.NS 
fall as much as 4.68% to 27.50 rupees
    ** Infrastructure developer reports 25% YoY fall in net
profit to 1.30 bln rupees ($15.9 mln); revenue up 13% to 16.20
bln rupees
    ** Profit fall in March-quarter due to high tax outgoings
and loss from associated income: Motilal Oswal
    ** Trading volume is 10.43 mln shares as of 1:26 p.m. IST,
more than the 30-day avg - Refinitiv data
    ** Of the eight analysts tracking IRBI, five maintain "buy"
and three recommend "hold"; median TP is 31.60 rupees
    

($1 = 81.7800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))