On Wednesday Ircon International Ltd reported a 13.56% YoY increase in net profit on a consolidated basis at Rs 243.02 crore for Q4FY23 as compared to Rs 214 crore in the same quarter last year and on a sequential basis, net profit increased by 22.10%. The net sales of the company increased by 28.05% to Rs 3,708.66 crore in Q4FY23 as compared to Rs 2,952.59 crore in the same quarter last year and increased by 61.12% sequentially.
In FY23, the company reported a 37.43% rise in total income to Rs 10,749.89 crore as compared to Rs 7821.64 crore in FY22. The net sales also increased by 40.5% to Rs 10,367.93 crore as compared to Rs 7,379.67 crore in FY22. The board of directors has recommended a final dividend of Rs 1.20 per equity share subject to shareholders’ approval.
Ircon International is an integrated Indian engineering and construction company. It provides EPC services on a fixed-sum turnkey basis as well as on an item-rate basis for various infrastructure projects. It also executes on build, operates, and transfer modes in various projects in order to meet the requirements of its bids. In 2016, it was ranked number 248 in the list of the top 250 international contractors by Engineering News-Record (ENR) of the United States.
Today, the share of Ircon International opened at Rs 80.79 and has touched a high and low of Rs 81.24 and Rs 79.80, respectively. So far 92,877 shares have been traded on the bourses.
At the time of writing, the shares of Ircon International were trading at Rs 79.75, a decrease of 0.39% from the previous day’s closing price of Rs 80.14 on BSE. The stock has a 52-week high and low of Rs 89.45 and Rs 34.80 respectively on BSE.