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Ircon’s FY19 net profit goes up, but Q4 drops by 56%

PW Bureau

For the entire financial year, however, net profit went up by about 10 percent to Rs 450 crores from Rs 409 crore a year ago New Delhi: Government-owned engineering and construction company Ircon International Ltd has recorded a 55.81 percent fall in net profit at Rs 95.59 crore in the fourth quarter of financial year 2018-19, primarily because of higher expenses. In the corresponding period a year ago, the public sector undertaking had posted a net profit of Rs 216.35 crore, Ircon said in a regulatory filing. For the entire financial year, however, net profit went up by about 10 percent to Rs 450 crores from Rs 409 crore a year ago.

Revenue grows at 19%

The company recorded revenue from operations of Rs 4,798 crore in FY19, a growth of 19 percent over FY18 which was Rs 4,024 crore. Increase in revenue from operations is mainly due to increase in domestic revenue.

Total dividend for FY19 will be Rs 21.545 per equity share

Total dividend for FY19 will be Rs 21.545 per equity share i.e. 215.45 percent of face value, comprising of interim dividend amounting to Rs 10.72 per equity share and final dividend recommended by the board at Rs 10.825 per equity share.

Trade Receivables come down to 51 days

Trade Receivables of the company came down to 51 days as on March 31, 2019 as compared to 61 days in the corresponding period of FY 2017-18. Railway projects remained the focus area where the company has achieved revenue of Rs 3,758 crore with a growth of 29 percent over FY 2017-18 when the figure was at Rs.2,905 crore.