Ircon International shares plummet 9% after PAT declines 65% YoY in Q3 (original) (raw)

Synopsis

Agencies

Ircon International reports sharp profit decline but announces interim dividend amid strong order book.

The shares of Navratna PSU Ircon International plunged by 8.8% to an intraday low of Rs 163.85 on the BSE today after reporting a 65% fall in its net profit to Rs 86 crore on a year-on-year basis for the third quarter ended December 2024.

This compares to Rs 245 crore in the same quarter last year.

Revenue from operations in the reporting period also declined by 11% year-on-year (YoY) to Rs 2,613 crore, compared to Rs 2,929 crore in the same period last year.

Profit Before Tax (PBT) for the October-December 2024 quarter also fell significantly to Rs 131.8 crore in Q3FY25, down from Rs 314 crore in Q3FY24.

Additionally, EBITDA during the third quarter was down to Rs 218.3 crore, compared to Rs 378.1 crore in Q3FY24. The company’s EBITDA margin stood at 8.1%.

The company's board has also approved an interim dividend of Rs 1.65 per share (face value of Rs 2 per share). The record date for the purpose of payment of the interim dividend for the financial year 2024-25 will be February 17, with the payment made from February 28.

Also read: MSCI February Rejig: Hyundai India joins Global Standard Index; IndusInd Bank, PB Fintech and others see weight increase

The total order book stood at Rs 21,939 crore as of December 2024. The breakdown is as follows: Rs 17,075 crore from Railways, Rs 4,775 crore from Highways, and Rs 89 crore from other industries.

"India is on a path to expand its transportation infrastructure, with significant focus on roadways, railways, and airports. The government is driving infrastructure development through strategic initiatives such as PM Gati Shakti, the National Logistics Policy, Bharatmala and Sagarmala Projects, Pradhan Mantri Awas Yojana, and the Smart Cities Mission," the company said in a release.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Ircon International shares plummet 9% after PAT declines 65% YoY in Q3 (original) (raw)

Read More News on

Read More News on

Ircon International shares plummet 9% after PAT declines 65% YoY in Q3 (original) (raw)

The shares of Ircon International dropped by 8.8% due to a significant 65% fall in net profit for Q3 2024. Revenue also declined by 11% YoY, with the total order book standing at Rs 21,939 crore. An interim dividend of Rs 1.65 per share has been approved.

Read More News on

Read More News on