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Business News/ Companies / Company Results/  IRCON International Q3 Results: Net profit rises 29% to 244 crore, revenue up 23% YoY; dividend declared
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IRCON International Q3 Results: Net profit rises 29% to ₹244 crore, revenue up 23% YoY; dividend declared

IRCON International Q3 Results: The state-run engineering and construction firm's revenue from operations in the third quarter of current fiscal rose 23 per cent at ₹2,884 crore, compared to ₹2,346 crore in the same period last year.

IRCON International's net profit came in at ₹244 crore (Pixabay)Premium
IRCON International's net profit came in at 244 crore (Pixabay)

IRCON International Q3 Results: IRCON International announced its October-December quarter results for fiscal 2023-24 (Q3FY24), reporting a rise of 29 per cent in its consolidated net profit at 244 crore, compared to 190 crore in the year-ago period.

The state-run engineering and construction firm's revenue from operations in the third quarter of current fiscal rose 23 per cent at 2,884 crore, compared to 2,346 crore in the same period last year.

The state-owned PSU also declared an interim dividend of Rs.1.80 per equity share on the face value of 2 each (90 per cent of the paid up equity share capital) for the financial year 2023-24. The interim dividend will be paid from Tuesday, February 27, 2024 onwards.

Also Read: Rail stocks RVNL, IRFC, IRCON jump up to 15% to new highs; soar up to 75% just in Jan ahead of Budget

On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) during the December quarter rose 63.2 per cent to Rs.378.1 crore, compared to Rs.231.7 crore in the year-ago period. The company’s EBITDA margin stood at 12.6 per cent.

Total income stands at 3,011.9 crore in Q3FY24 as against Rs.2,421.9 crore in Q3FY23, a jump of 24.4 per cent year-on-year (YoY). EPS stands at Rs. 2.60 per equity share of the face value of Rs. 2  per share.

IRCON International's order book stood at 29,436.1 crore in the December quarter. Railway orders made up 72.3 per cent of IRCON's current order book amounting to 21,282 crore, while highway projects made up 20.7 per cent to 6,102.2 crore, and other segments made up seven per cent amounting to 2,051.9.

A Navratna public sector enterprise, IRCON is a prominent turnkey construction company specializing in railway and highway projects. Ahead of the announcement of Q3FFY24 results, shares of IRCON International settled 0.54 per cent lower at 228.65 apiece on the BSE.

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Published: 08 Feb 2024, 07:53 PM IST
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