Shares of Ircon International, a public sector company, dipped by 8.8% today, reaching a low of Rs 163.85 on the BSE. This drop came after the company reported its net profit, or earnings, fell by 65% to Rs 86 crore for the third quarter ending in December 2024. Last year, during the same time, they made Rs 245 crore.
Revenue, which is the total money earned from operations, also dropped by 11% to Rs 2,613 crore from Rs 2,929 crore in the previous year. Profit Before Tax (PBT) for this quarter also took a hit, falling to Rs 131.8 crore compared to Rs 314 crore last year. Additionally, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), which shows how much money the company made before certain costs, decreased to Rs 218.3 crore from Rs 378.1 crore a year ago. The company’s EBITDA margin, a measurement of how much profit they make from revenue, was at 8.1%.
The board of directors has decided to give an interim dividend of Rs 1.65 for each share, which will be paid out after February 28, with a record date of February 17.
In other news, the company has a strong order book worth Rs 21,939 crore as of December 2024, with Rs 17,075 crore coming from Railways, Rs 4,775 crore from Highways, and Rs 89 crore from other industries. The Indian government is focusing on building better transportation like roads, railways, and airports through various projects to improve infrastructure, including PM Gati Shakti and the Smart Cities Mission.
(Disclaimer: The views and opinions shared by experts are their own and do not reflect the views of Niftystat.)
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