IRCON Q2 results, stock impacts by 4.4% fall, profit down 18% YoY, revenue and margin declines
The company's revenue for the quarter declined by 19.3% year-on-year, totaling Rs 2,447.5 crore compared to Rs 3,033.3 crore in the corresponding quarter last year.
IRCON Q2 results, stock impacts by 4.4 fall, profit down 18 YoY, revenue and margin declines
IRCON International Ltd, a major player in railway construction, announced its second-quarter results after the market closed on Thursday. For Q2, the company reported a net profit of Rs 206 crore, which is down 17.8% year-on-year from Rs 250.7 crore in the same period last year. However, this figure represents an increase from the previous quarter, where the net profit was Rs 176.51 crore.
The company's revenue for the quarter declined by 19.3% year-on-year, totaling Rs 2,447.5 crore compared to Rs 3,033.3 crore in the corresponding quarter last year.
Additionally, earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 23.3%, coming in at Rs 201 crore compared to Rs 263 crore a year ago. The EBITDA margin also narrowed slightly to 8.2%, down from 8.6% in Q2 FY24.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
IRCON’s domestic revenue was also impacted, decreasing by 17.8% YoY to Rs 2,206.03 crore. International revenue fell more sharply, ending at Rs 92.83 crore, a notable drop from Rs 197.67 crore in the same quarter of the previous year. The shares are also impacted badly while falling over 4%.
Read Also : Indian Bank Hands Over Sanction Letters Worth Rs 1,011 Crore to Over 3,000 Women