IRB Infra Developers Q2 net up 11

IRB Infrastructure Developers Ltd today reported a consolidated net profit of Rs 110 crore for the quarter ended September 30 8212; up 11 per cent over the same period last fiscal.

The company,which is into road construction and real estate businesses,had reported a net profit of Rs 99.10 crore during the July-September quarter of 2010-11.IRB8217;s income from operations rose by a little over 50 per cent to Rs 735.88 crore during the quarter,vis-a-vis Rs 490.31 crore it had reported during the Q2 of last fiscal,the company said in a filing to the BSE.

During the quarter,IRB8217;s entire income accrued from the road constructions business,the filing said,adding that the commercial activities from the realty business are yet to commence. The company is in the process of acquiring land for the business.

Promoters of the company pledged 4.15 per cent shares to raise money during the quarter,the filing said,adding that the total pledged shares,as on September 30,2011,stood at 24.54 per cent.