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Q3 FY’22: IRCON posts 25.95% increase in net profit; declares dividend

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New Delhi: Ircon International Limited (IRCON), a Miniratna PSU and a leading turnkey construction company under the Ministry of Railways, has announced its financial results for the third quarter and nine months ended on December 31, 2021.

The company has reported 25.95 percent increase in net profit (PAT) of Rs 130 crore against Rs 103 crore, which was reported in the third quarter (Q3) of the previous financial year (FY2020-21). The revenue from operations has also increased by 31.54 percent to Rs 1,639 crore as against Rs 1,246 crore in Q3 of FY21.

Total income stands at Rs 1,709 crore as against Rs 1,304 crore in Q3 of FY21

On a nine-month basis (From April 1, 2021, to December 31, 2021), the net profit of IRCON has increased to Rs 347 crore as against Rs 219 crore in nine months of FY21. Total Income stood Revenues from operations for the period nine months ended December 31st, 2021 increased to Rs.4,113 crore as compared to Rs.2,693 crore in nine months of FY'21.

The company’s net profit margin stood at 8.05 percent.

The Board of Directors of IRCON has approved the 3rd interim dividend of Re 0.70 per equity share on the face value of Rs 2 per share for the financial year 2021-22. This interim dividend is in addition to earlier interim dividends of Rs 1.15 per equity share, as declared and paid earlier in FY’22.

IRCON has secured new orders worth Rs 11,011 crore in Q3 of FY’22 including the lowest bidder declared in biddings (however, LoA yet to be received). As of December 31, 2021, the total order book stands at Rs 43,505 crore.

On behalf of the Government, IRCON has handed over the newly commissioned cross-border rail section from Jaynagar (Km. 0.00) to Kurtha (Km. 34.90) to the Government of Nepal (GoN) on October 22, 2021. This is part of 68.72 Km Jaynagar-Bijalpura-Bardibas rail link being built under the Government of India grant assistance of NPR 8.77 billion.

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