IRB Infrastructure Developers Limited recorded a net profit of Rs 46.76 crore for the three month period ended March 31, 2010 as against Rs 49.55 crore in the same quarter ended March 31, 2009.
Total income during the Jan-Mar period decreased to Rs 53.41 crore as against Rs 54.55 crore during the year-ago period.
For the financial year ended March 31, 2010, IRB Infra registered a net profit of Rs 55.84 crore as against Rs 57.35 crore in 2009.
The total income has increased to Rs 76.69 crore from Rs 71.14 crore in the last year.
Technical analyst MB Singh, on April 28, has maintained 'hold' rating on the company's stock to achieve a short term target above Rs 310 .
According to him, the interested investors can purchase the stock with a stop loss of Rs 265.
IRB Infrastructure Developers Ltd., on April 08, said that it may sign a partnership agreement with foreign developers to assist the company become qualified to bid for superior highway projects. (With Inputs from Agencies)