IRCON posts 10 percent jump in net profit in Q2 FY20

IRCON has registered a profit growth of 10% in the second quarter of the current financial year (FY-20) against the corresponding period of the previous financial year (FY-19)
IRCON posts 10 percent jump in net profit in Q2 FY20

New Delhi: Ircon International Limited (IRCON) has announced its financial results for Q2 FY20 on November 13, 2019. The company has recorded revenue from operations of Rs 1,161 crore in Q2 of FY20, a growth of 21 percent over Q2 FY19 which was Rs 962 crore. Increase in revenue from operations is due to increase in domestic revenue. Profit after tax (PAT) has increased to Rs 87.70 crore in Q2 FY20 as compared to Rs 83.57 crore in Q2 FY19. EBITDA has also increased to Rs146 crore in the quarter ended on September 2019 as compared to Rs.133 crore in the corresponding period FY19.

Order Book of the company stands at Rs 32,393 crore comprising of Rs 30,333 crore of Railway projects.

The key highlights of IRCON's financial performance for FY 2019-20 

  • Total revenue for the quarter ended 30th September 2019 increased to Rs.1218 crore as compared to Rs 1,033 crore in the corresponding period ended September 30, 2018, i.e. 18 percent growth over the corresponding period.
  • Profit before tax has increased by 10 percent to Rs 137 crore for the quarter ended September 30, 2019 against Rs 125 crore for the corresponding period of FY-19.
  • Core EBITDA has also increased to 7.70 percent in Q2 FY-20 as compared to 6.53 percent in Q2 FY19.
  • Earnings per share (EPS) stands at Rs 9.32 for the quarter ended September 30, 2019, as compared to Rs 8.
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    89 for the corresponding period FY-19.

About Ircon International Limited:

Ircon International Limited is a Miniratna (Category — I) schedule 'A' Public Sector Enterprise and a leading turnkey construction company in the public sector known for quality, commitment and consistency in terms of performance. IRCON has widespread operations in several states in India and other countries (Malaysia, Nepal, Bangladesh, South Africa, Algeria and Sri Lanka).

Disclaimer: This story is a press release and is being published without any editing by PSU Watch desk. Our editorial team has only changed the headline.

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