Active Stocks
Mon Apr 22 2024 15:57:16
  1. Tata Steel share price
  2. 161.85 -0.15%
  1. HDFC Bank share price
  2. 1,512.30 -1.24%
  1. State Bank Of India share price
  2. 765.85 2.00%
  1. ICICI Bank share price
  2. 1,087.00 1.93%
  1. Wipro share price
  2. 461.95 2.01%
Business News/ Companies / Company Results/  Ircon International Q2 results: Net profit increases by 44% to 251 crore

Ircon International Q2 results: Net profit increases by 44% to ₹251 crore

Ircon International Q2 net profit rises 44% to ₹250.8 crore, total income up to ₹3,136.3 crore

IRCON International reported a 40% rise in its net profit to ₹251 crore in the September quarter of FY24 (Pixabay)Premium
IRCON International reported a 40% rise in its net profit to 251 crore in the September quarter of FY24 (Pixabay)

Ircon International Q2 result: Navratna company reported a 44% rise in its net profit to 250.8 crore in the September quarter of FY24, against a net profit of 174.2 crore in the year-ago period.

Its consolidated total income increased to 3,136.3 crore in the second quarter of the ongoing fiscal from 2,305.9 crore in the same quarter last year. The total order book of the company stood at 32,152 crore as on September 30, according to its BSE filing. IRCON is engaged in the railways and highways sectors and comes under the Ministry of Railways.

Also Read: Diwali 2023: Tata Motors, Zomato among Dalal & Broacha's top 10 stock picks

IRCON shares closed marginally lower at 153.50 per share on BSE on Thursday.

Its revenue from operations during the quarter jumped by 33.4% to 2986.8 crore against 2238.9 crore in the quarter under review. Its EBITDA increased by 41.7% YoY to 392.4 crore as compared to Rs.276.9 crore in the September quarter of FY2023-24. The Company’s EBITDA margin stood at 12.5%.

Also Read: Market Wrap: Nifty 50 settles lower at 19,400; Sensex down 140 points dragged by Adani Ports, HUL

Its EPS stood at Rs.2.67 per equity share of the face value of Rs.2/- per share. Its total order book, on 30 September, stood at 32,152 crore. Railway emerged as the most profitable segment of the company for the quarter under review. Its order book stood at Rs.23,651 crore. Whereas, Highways segment stood at Rs.6,535 crore, and others at Rs,1,966 crore.

Also Read: TBO Tek IPO: Firm files DRHP with SEBI to raise 400 crore via fresh issue and an offer for sale for 1.56 crore shares

About Ircon International Limited

The Navratna PSU works mainly in Railways and Highways. It directly reports to the Ministry of Railways. The company has executed projects operated in the areas of Railway construction including ballastless track, electrification, tunneling, signal, and telecommunication. There has been a leasing of locos, and construction of roads, highways, and commercial by the company. Its operations are spread in a range of Indian states and abroad as well. Outside India, the company is handling its business in Malaysia, Nepal, Bangladesh, South Africa, Algeria, Myanmar, and Sri Lanka). Till now, IRCON has completed more than 128 projects in 25 countries, said the company in its BSE filing.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 09 Nov 2023, 04:39 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App