Kolkata, February 14, 2018: Bharat Road Network Limited ("BRNL"), a leading roads and highways BOT company, has reported almost 13 times increase in its standalone profit after tax ("PAT") at Rs1089 lakhs during the quarter ended December 31, 2017 as compared to Rs 84 lakhs in the corresponding quarter of previous year. The company's standalone revenues more than trebled to Rs2142 lakhs during the quarter ended December 31, 2017 from Rs 614 lakhs in the corresponding period of previous year.
The company has witnessed a healthy traffic growth across the operating projects in its portfolio. The average daily traffic growth in passenger car unit ("PCU") terms for the quarter ended December 31, 2017 increased by 7.2% over the same quarter of previous year, while the PCU growth during the nine months ending December 31, 2017 grew by 7.2% compared to corresponding period of last year.
The total toll revenue across the portfolio increased by 73% to Rs 15,430 lakhs during the quarter ended December 31, 2017 as against Rs 8,920 lakhs in the corresponding quarter of last year. The toll revenue during the nine months ended December 31, 2017 was Rs 44,170 lakhs as against Rs31,100 lakhs in the corresponding period of last year, registering a growth of 42%.
Commenting on the financial results, Mr. Bajrang Kumar Choudhary, Managing Director, BRNL, said: "We are pleased to be able to continuously align our business expansion strategy with our operating performances over the past few months. Constantly improving macro-economic indicators, increasing budgetary allocation on roads and highways, continued regulatory thrust on enhancing connectivity for sustained growth momentum and a trend towards improving infrastructure to improve economic and social welfare across the country are all additional drivers that underpin our growth strategy."
Highlights:
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Q3 FY18
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Nine Months FY18
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Revenue increased by 3.5x to Rs 2,142 lakhs
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Revenue increased by 2.8x to Rs 3,983 lakhs
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EBITDA increased by 5.5x to Rs 1,853 lakhs
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EBITDA increased by 3.5x to Rs 3,255 lakhs
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PAT increased by 13x to Rs 1,089 lakhs
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PAT increased by 39x to Rs 1,925 lakhs
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About Bharat Road Network Limited ("BRNL"):
Bharat Road Network Limited (BSE: 540700, NSE: BRNL), a Srei initiative, is a road BOT company in India, focused on development, implementation, operation and maintenance of roads and highways projects. BRNL is involved in the development, operation and maintenance of national and state highways in several states in India with projects in states of Uttar Pradesh, Kerala, Haryana, Madhya Pradesh, Maharashtra and Odisha through partnerships with experienced EPC players in the local space where the project is located.
BRNL has a project portfolio consisting of six BOT projects, of which five projects are operational and one project is under construction. As on December 31, 2017, the company is managing road assets worth Rs 6,734 crore, covering 2,095 lane kilometres across six states in India.
For further details on BRNL, please visit: http://www.brnl.in