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IRB Infrastructure Developers Q3 FY24 Results Live : Revenue increased by 30.01% YoY & profit increased by 32.59% YoY

Analysts had expected government capex to further increase by 10-15% for FY25. In FY24, the government had pegged a capex target of Rs 10 lakh crore. Of the total outlay for FY25, the government has allocated Rs 2.78 lakh crore for the road transport and highways ministry, and Rs 2.55 lakh crore for railways.

Finance Minister Nirmala Sitharaman will present the interim Budget, which will focus on government spending on infrastructure. The Narendra Modi government's spending on infrastructure has been growing at a 30% CAGR in the last 4 years. The government is expected to raise allocation towards rail, roads, and other infrastructure projects. Infrastructure-related companies in construction, cement, and steel could benefit from increased government spending. Railways capex is expected to further increase to 20% growth YoY while defense spending growth may be in single digits.

Q3 results today: Approximately 21 companies will release their Q3 quarter results today on January 31

The company had clocked a net profit of Rs 141.35 crore during the year-ago quarter, IRB Infrastructure Developers said in a BSE filing.