IRCON International Q2 Results: Net profit rises 18% to ₹206 crore, revenue down 19% YoY

IRCON International Q2 Results: IRCON International announced its January-March quarter results for fiscal 2024-25 (Q2FY25) on Thursday, November 7, reporting a rise of 18 per cent in net profit to ₹206 crore, compared to ₹250.7 crore in the corresponding period last year. 

The state-run engineering and construction firm's revenue from operations in the second quarter of the current fiscal dropped 19.3 per cent to ₹2,447.5 crore, compared to ₹3,033.3 crore in the year-ago period. The total order book stands at Rs.24253 crore. The breakdown is as follows: Railways – Rs.1,8,959 crore, Highways – Rs. 5,210 crore, Others – Rs. 84 crore. 

On the operational front, IRCON International's earnings before interest, taxes, depreciation, and amortization (EBITDA) during the September quarter rose 23 per cent to ₹201 crore, compared to ₹263 crore in the year-ago period. Margin rose to 8.6 per cent compared to 8.2 per cent in the year-ago period.

EPS for the quarter (not annualized) is Rs.2.19 per equity share with a face value of Rs. 2 per share. Total income stands at Rs. 2,538.6 crore in Q2FY25 as against Rs. 3,136.3 crore in Q2FY24. On the outlook, IRCON International said, “India is on a path to expand its transportation infrastructure, with a significant focus on roadways, railways, and airports.”

"The government drives infrastructure development through strategic initiatives, such as PM Gati Shakti, the National Logistics Policy, the Bharatmala and Sagarmala Projects, the Pradhan Mantri Awas Yojana, and the Smart Cities Mission. 

Under PM Gati Shakti, three major railway corridor programs have been announced to enhance logistics efficiency and reduce operational costs. Urban transformation initiatives like Metro Rail and NaMo Bharat are set to boost public transit infrastructure," said IRCON International. Ahead of Q2FY25 results, IRCON International settled 1.74 per cent lower at ₹215.10 apiece on the BSE.