Ircon Q1 FY23 profit surges, shares rally 89%
ECONOMY & POLICY

Ircon Q1 FY23 profit surges, shares rally 89%

Ircon International, a subsidiary of Indian Railways, witnessed an impressive share price rally of 89%, reaching Rs 107.6 on BSE, attributed to the firm's substantial 29.6% YoY increase in consolidated net profit to $1.874 billion for Q1 FY23. The company's robust financial performance was reflected in both revenue and order book figures.

In the corresponding quarter of the previous fiscal year, Ircon International had recorded a net profit of $1.446 billion on a topline of $20.019 billion. During the reported period, the infrastructure company achieved a remarkable 35.7% YoY surge in its consolidated revenue from operations, reaching $27.122 billion.

Operating metrics also demonstrated strong growth, with the company's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) surging 31.2% YoY to $2.088 billion in the first quarter. Ircon's EBITDA margin for the reporting quarter stood at 7.8%, slightly down from 8% in the corresponding period of the previous fiscal year.

The total order book as of June 30, 2023, amounted to $324.86 billion, with the railway segment accounting for $236.13 billion, the highway segment at $69.06 billion, and other projects at $19.67 billion. The company highlighted its increasing share of orders secured through competitive bidding, which reached 55% of the total order book as of June 30, 2023.

Ircon International, a Miniratna (Category - 1) public sector enterprise, is a prominent turnkey construction company renowned for its expertise in railway and highway projects.

As of 10:14 am, the stock was trading 6.8% higher at Rs 106.5 on BSE. Over the year-to-date period, the stock has surged 80%, displaying an impressive 90% rally over the past six months. Remarkably, the stock has delivered a significant 175% return over the past year.

Technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), further underscore the bullish sentiment surrounding the stock's performance.

Ircon International, a subsidiary of Indian Railways, witnessed an impressive share price rally of 89%, reaching Rs 107.6 on BSE, attributed to the firm's substantial 29.6% YoY increase in consolidated net profit to $1.874 billion for Q1 FY23. The company's robust financial performance was reflected in both revenue and order book figures.In the corresponding quarter of the previous fiscal year, Ircon International had recorded a net profit of $1.446 billion on a topline of $20.019 billion. During the reported period, the infrastructure company achieved a remarkable 35.7% YoY surge in its consolidated revenue from operations, reaching $27.122 billion.Operating metrics also demonstrated strong growth, with the company's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) surging 31.2% YoY to $2.088 billion in the first quarter. Ircon's EBITDA margin for the reporting quarter stood at 7.8%, slightly down from 8% in the corresponding period of the previous fiscal year.The total order book as of June 30, 2023, amounted to $324.86 billion, with the railway segment accounting for $236.13 billion, the highway segment at $69.06 billion, and other projects at $19.67 billion. The company highlighted its increasing share of orders secured through competitive bidding, which reached 55% of the total order book as of June 30, 2023.Ircon International, a Miniratna (Category - 1) public sector enterprise, is a prominent turnkey construction company renowned for its expertise in railway and highway projects.As of 10:14 am, the stock was trading 6.8% higher at Rs 106.5 on BSE. Over the year-to-date period, the stock has surged 80%, displaying an impressive 90% rally over the past six months. Remarkably, the stock has delivered a significant 175% return over the past year.Technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), further underscore the bullish sentiment surrounding the stock's performance.

Next Story
Resources

RentenPe and Mygate Partner to Transform Rent Payments in India

Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India’s first Rent Credit Score™ platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe’s payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..

Next Story
Real Estate

Supreme Unveils New Brand Identity to Elevate Lifestyle

Supreme, a respected name in Indian real estate with a four-decade legacy, has announced a complete rebranding. The move includes the launch of a new logo and a revamped website, both reflecting the group’s refreshed vision to ‘Elevate Lifestyle’. This brand transformation represents more than a visual refresh—it marks a strategic shift in the company’s mission, visual identity and market positioning. The update will be visible across all of Supreme’s digital, social and offline communication platforms. At the core of the initiative is a renewed focus on purposeful design..

Next Story
Infrastructure Urban

Capri Loans Launches #TarrakiKeHaath Campaign Honouring India’s Everyday Heroes

Capri Global Capital Ltd (Capri Loans), a leading non-banking financial company, has unveiled its latest brand campaign, #TarrakiKeHaath, a powerful tribute to the everyday hands that build India — from kirana store owners and taxi drivers to dhaba workers, tailors, and carpenters. Narrated by Capri Loans’ long-standing brand ambassador and acclaimed actor Pankaj Tripathi, the campaign celebrates the dignity, resilience, and aspirations of self-employed individuals and small business owners who form the backbone of Bharat’s economy. Conceptualized by Rediffusion Brand Solutions, the..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?