IRB Infra to consider stock split, board to meet on Jan 4


Construction engineering company IRB Infrastructure on Monday said that the company will consider stock split. The company board will meet on January 4, 2023 to consider the same.

“This is to inform that a meeting of the Board of Directors of the Company is scheduled to be held on January 04, 2023, to consider, inter-alia, a proposal for alteration in the share capital of the Company by sub-division/split of existing equity shares having face value of Rs. 10/- each, fully paid up,” said the company in its regulatory filing.

IRB Infrastructure will also consider announcing the financial results for the quarter ended December 31, 2022.

“Further, for the purposes of the above and in terms of the Code of Internal Procedures and Conduct for Regulating, Monitoring and Reporting of Trading by Designated Persons, the trading window for dealing in securities of the Company is hereby closed and will open 48 hours after the announcement of financial results for the quarter ended December 31, 2022 to the public,” the company added.

IRB Infrastructure Developers Ltd. (IRB) is a mid-cap company with a market capitalization of Rs. 15,091.46 crore.

IRB Infrastructure Developers Ltd. reported a 101.65% year-on-year jump in consolidated net profit to 85.30 crore for the quarter ended September (Q2). The company had clocked a net profit of 42.30 crore in the corresponding quarter of the previous fiscal.

The total income during the quarter declined to 1,438 crore from 1,504 a year ago.

The shares of IRB Infrastructure Developers closed on Monday at 312.80 apiece, up by 2.12 per cent on BSE. On a YTD basis, the stock has gained 12.74% so far in 2022.

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