Bharat Road Network Limited's Q3 FY18 PAT rises 13 times
Hyderabad, February 15, 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 Rs 1089 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 Rs 2142 lakhs during the quarter ended December 31, 2017 from Rs 614 lakhs in the corresponding period of previous year.
The companyhas witnessed a healthy traffic growth across the operating projects in itsportfolio. The average daily traffic growth in passenger car unit("PCU") terms for the quarter ended December 31, 2017 increasedby 7.2% over the same quarter of previous year, while the PCUgrowth during the nine months ending December 31, 2017 grew by7.2%compared to corresponding period of last year.
The totaltoll revenue across the portfolio increased by 73% to Rs 15,430 lakhsduring the quarter ended December 31, 2017 as against Rs 8,920 lakhs inthe corresponding quarter of last year. The toll revenue during the nine monthsended December 31, 2017 was Rs 44,170 lakhs as againstRs 31,100 lakhs in the corresponding period of last year,registering a growth of 42%.
Commentingon the financial results, Mr. Bajrang Kumar Choudhary, ManagingDirector, BRNL, said: "We are pleased to be able tocontinuously align our business expansion strategy with our operatingperformances over the past few months. Constantly improving macroeconomicindicators, increasing budgetary allocation on roads and highways, continuedregulatory thrust on enhancing connectivity for sustained growth momentum and atrend towards improving infrastructure to improve economic and social welfareacross the country are all additional drivers that underpin our growthstrategy."